Samrand - Results of Annual General Meeting
SAMRAND DEVELOPMENT HOLDINGS LIMITED
("Samrand" or "the company")
(Registration number 1971/003132/06)
Share code: SMR & ISIN: ZAE000010419
RESULTS OF ANNUAL GENERAL MEETING
Shareholders of Samrand Development Holdings are advised that at the Annual
General Meeting of the company which was held at 14:00pm on Tuesday, 22 November
2005, the resolutions proposed, with the exception of the first resolution
regarding the adoption of the Annual Financial Statements for the year ended 31
March 2005, were passed by the prerequisite majority of shareholders, with the
exception.
The resolution regarding the acceptance of the Annual Financial Statements was
modified as follows:
"To receive and adopt the annual financial statements of Samrand Development
Holdings Limited for the year ended 31 March 2005 subject to the condition that
the directors amend the directors" report relating to the New Republic Bank
litigation disclosure under the heading "Litigation Against This Group" to read:
New Republic Bank Limited (under receivership) (NRB)
In November 1998 NRB advanced R50 million to Samrand Development Holdings
Limited. This loan is the subject matter of litigation between NRB and Samrand
with its subsidiaries, namely Samrand Development (Pty) Limited and Samrand Vaal
Resort (Pty) Limited.
and that the directors consider and if deemed necessary amend the value of the
undeveloped land referred to in note 5 to the notes to the financial statements
to accord with the valuation of the undeveloped land as determined by the
company"s professional valuer."
This amended resolution was passed by a majority on a poll.
Germiston
22 November 2005
SPONSOR
LPC Manhattan Moela (Pty) Limited
Date: 23/11/2005 09:21:08 AM Produced by the JSE SENS Department
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