Johnnic - Results Of The General Meeting ; Final U
Johnnic - Results Of The General Meeting ; Final Unbundling Ratio
Johnnic Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1889/000429/06)
(`Johnnic`)
ISIN Code: ZAE000024352
SHARE Code: JNC
RESULTS OF THE GENERAL MEETING AND ANNOUNCEMENT OF THE FINAL UNBUNDLING RATIO
RESULTS OF THE GENERAL MEETING
Further to the announcement published in the press on 19 January 2005 and the
circular posted to shareholders of Johnnic (`shareholders`) on 11 February 2005
(`the unbundling circular`), Standard Bank of South Africa Limited (`Standard
Bank`) is authorised to announce that at the general meeting of shareholders
held on Wednesday, 9 March 2005, the requisite majority of shareholders voted in
favour of the ordinary resolutions necessary to implement the distribution in
specie by Johnnic to its shareholders (pro rata to their shareholdings) recorded
in the register at the close of business on Thursday, 24 March 2005 (`record
date`), of all of its shareholding in Johnnic Communications Limited
(`Johncom`).
FINAL UNBUNDLING RATIO
The total number of Johnnic shares in issue amounts to 166 470 398 and the total
number of Johncom shares to be unbundled amounts to 65 098 196 as indicated in
the unbundling circular. Accordingly, shareholders will be entitled to receive
39.10497 Johncom shares for every 100 shares held in Johnnic at the record date
as the final unbundling ratio.
Midrand
9 March 2005
Investment Bank and transaction sponsor
Standard Bank
Legal advisors
Webber Wentzel Bowens
Auditors
Deloitte & Touche
Tax Advisors
Deloitte & Touche
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Advisor to the Independent Committee
PricewaterhouseCoopers
Date: 09/03/2005 02:31:02 PM
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