Infowave Holdings Limited - Results Of Annual General Meeting
INFOWAVE HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)(REGISTRATION NUMBER 1998/017276/06)
(`INFOWAVE` OR `THE COMPANY`)
SHARE CODE: IFW ISIN NUMBER: ZAE000016440
RESULTS OF ANNUAL GENERAL MEETING (`AGM`)Sasfin Corporate Finance, a division of Sasfin Bank Limited (`Sasfin Corporate
Finance`), is authorised to announce that all of the ordinary resolutions and
special resolution proposed at the AGM of the company held on Tuesday, 31 May
2005, were approved by the requisite majority of shareholders. The specialresolution will be lodged with the registrar of companies for registration in
due course.
Included in the abovementioned was an ordinary resolution relating to the issue
of 300 000 shares each, to directors of the company, Mrs C L Jessop and Mrs B RCarrilho (`the retention shares`). The retention shares were issued at a price
of 33 cents per share, which is the weighted average trading price of InfoWave
securities for the thirty business days ending 21 April 2005 (`the specific
issue`). The specific issue was categorised as a related party transaction bythe JSE Securities Exchange South Africa (`JSE`). In this regard a fair and
reasonable opinion from an independent expert was required. Sasfin Corporate
Finance was appointed by the company and advised that the terms of the specific
issue were fair and reasonable. Their opinion can be viewed in the 2005InfoWave annual report or at the registered office of the company, Gleneagles
Park, 10 Flanders Drive, Mount Edgecombe. The financial effects of the specific
issue are immaterial and therefore are not required to be shown. The JSE has
granted a listing of the retention shares with effect from the commencement ofbusiness on Wednesday, 1 June 2005.
Mount Edgecombe
31 May 2005
SPONSORSASFIN CORPORATE FINANCE
A DIVISION OF SASFIN BANK LIMITEDDate: 31/05/2005 04:22:32 PM Produced by the JSE SENS Department
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