Simmers - Result of general meeting
SIMMER AND JACK MINES, LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1924/007778/06)
Share code: SIM ISIN: ZAE000006722
(`Simmers`)
RESULT OF GENERAL MEETING
Shareholders were advised in an announcement released on SENS and published in
the press on 31 January 2005, that Simmers would proceed with a renounceable
rights offer of 516 241 685 new ordinary shares at a subscription price of 25
cents per share to raise R129,0 million (`the rights offer`).
At the general meeting of Simmers shareholders held on Monday, 28 February 2005,
the resolutions to:
- increase the authorised share capital of Simmers to R24 000 000 consisting
of 1 200 000 000 ordinary shares of 2 cents each by the creation of 900 000
000 ordinary shares of 2 cents each;
- waive the mandatory offer to Simmers shareholders in terms of Rule 8.1 of
the Securities Regulation Code on Takeovers and Mergers as a consequence of
the change of control of Simmers to Jaganda Trading (Proprietary) Limited
that will occur pursuant to the rights offer;
- approve the amendment to the Simmer and Jack Mines Limited Share Trust
regarding the release period of shares to participants; and
- place the unissued shares in the share capital of the company under the
control of directors,
were passed by the required majority of shareholders. Accordingly, Simmers may
proceed with the rights offer.
The special resolution for the increase in authorised share capital has been
lodged with the Registrar of Companies for registration.
It is expected that the salient dates of the rights offer will be published on
SENS and in the press during March 2005
Johannesburg
28 February 2005
Corporate adviser
Newfound
Sponsor
River Sponsors
Corporate law adviser
Tabacks
Date: 28/02/2005 02:13:18 PM
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