| Thu 8 Sep 2005, 16:10 | | IFS - Results Of The General Meeting |
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IFS - Results Of The General Meeting
Independent Financial Services Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/037061/06)
Share code: IND ISIN code: ZAE000025300
(`IFS` or `the company`)
RESULTS OF THE GENERAL MEETING
It is hereby announced that at the general meeting of IFS shareholders held on
Thursday, 8 September 2005, convened in terms of the notice of general meeting
contained in the circular to IFS shareholders issued on 17 August 2005, the
requisite majority of shareholders passed the ordinary and special resolutions
regarding:
- the disposal by IFS Insurance Brokers (Proprietary) Limited (`IFS Insurance
Brokers`), a wholly-owned subsidiary of IFS, of its business as a going
concern;
- the disposal by 62 Juta Street Braamfontein (Proprietary) Limited, a wholly
owned subsidiary of IFS, of:
- the property, being the company`s head office building, situated at 62
Juta Street, Braamfontein, Johannesburg; and
- the property situated at 10 Grant Avenue, Norwood, Johannesburg on
public auction;
- the disposal by IFS of the shares in and claims against Red Car Hire
(Proprietary) Limited, a wholly-owned subsidiary of IFS;
- a cash distribution of 7,67 cents per share to shareholders by way of
a reduction of share premium and a dividend in specie of one share in
IFS Insurance Brokers for each share held in IFS (`capital
distribution`); and
- a special dividend of 6,25 cents per share to be paid from the capital
reserve of IFS.
Pursuant to the passing of the special resolutions pertaining to the capital
distribution to shareholders by means of a reduction of share premium and the
special dividend to be paid out of the capital or other reserves of the company,
the requisite special resolutions will be lodged for registration with the
Registrar of Companies in due course.
Shareholders are reminded of the following salient dates:
2005
Last day to trade in order to qualify for the cash
distribution, the dividend in specie and the special Friday, 16 September
dividend
IFS shares trade ex- the cash distribution, the
dividend in specie and special dividend on Monday, 19 September
Record date to be recorded in the register to Friday, 23 September
participate in the distributions
Distribution to shareholders in respect of the capital
distribution and special dividend. Posting of cheques
and share certificates or electronic bank transfers in
respect of certificated shareholders. Accounts
credited at Central Securities Depository Participant
(`CSDP`) or broker in respect of shareholders who have
dematerialised their shares. Share certificates in the Monday, 26 September
name of IFS Insurance Brokers will be issued to CSDPs
and brokers of dematerialised shareholders on
Notes:
1. Share certificates may not be dematerialised or rematerialised between
Monday, 19 September 2005 and Friday, 23 September 2005, both days
inclusive.
2. IFS Insurance Brokers will not be listed on the JSE Limited.
Johannesburg
8 September 2005
Sponsor
Merchant Sponsors (Proprietary) Limited
Date: 08/09/2005 03:49:03 PM
