| Tue 15 Mar 2005, 16:46 | | Results Of The Putco Scheme And General Meetings |
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Putco Limited - Results Of The Putco Scheme And General Meetings
Putco Limited
(Incorporated in the Republic of South Africa)
(Registration number 1945/018672/06)
Share code: PTC ISIN: ZAE000005716
(`Putco` or `the company`)
RESULTS OF THE PUTCO SCHEME AND GENERAL MEETINGS
1. INTRODUCTION
Further to the announcement published in the press on Friday, 18 February 2005,
Investec Bank Limited is authorised to announce that:
1.1 The scheme of arrangement (`the scheme`) in terms of section 311 of the
Companies Act, 1973 (Act 61 of 1973), as amended, proposed by Putco between
Putco and its shareholders, other than Carleo Enterprises (Proprietary) Limited
(`the scheme participants`) has been approved by 87% of votes by the scheme
participants at the scheme meeting held on Tuesday, 15 March 2005.
Application will be made to the High Court of South Africa (Witwatersrand Local
Division) (`the Court`) on Tuesday, 29 March 2005 at 10:00 or as soon thereafter
as Counsel may be heard for the sanctioning of the scheme. The Court is located
in the High Court Building, von Brandis Square, corner Pritchard and von Brandis
Streets, Johannesburg.
A further announcement regarding the outcome of the application to the Court
will be published on or about Tuesday, 29 March 2005.
1.2 At the general meeting held on Tuesday, 15 March 2005, the requisite
majority of Putco shareholders approved the resolutions necessary to authorise
the acquisition by Putco of Putco`s ordinary shares in terms of the scheme.
2. CONDITIONS PRECEDENT
If the Court sanctions the scheme, the only remaining condition precedent will
be the registration by the Registrar of Companies of the Order of Court
sanctioning the scheme.
3. CHAIRMAN`S REPORT
Copies of the Chairman`s report on the scheme meeting will be available on
request from Wednesday, 16 March 2005 during normal business hours from the
registered offices of Putco, Mimosa Park, 5 Mimosa Way, Gallo Manor, Sandton or
from the office of the transfer secretaries, Computershare Investor Services
2004 (Proprietary) Limited, Ground Floor, 70 Marshall Street, Johannesburg.
4. FURTHER ANNOUNCEMENT
A further announcement regarding the outcome of the application to the Court and
final salient dates and times of the scheme will be made to shareholders in due
course.
Sandton
15 March 2005
Lead transaction advisor and transactional sponsor
Investec Corporate Finance
Independent expert
Deloitte & Touche
Co - advisor
Ernst & Young Corporate Finance
Attorneys
Werksmans Inc
Joint sponsor
Ernst & Young Sponsor
Date: 15/03/2005 04:43:48 PM
Produced by the JSE SENS Department
