Simeka - Withdrawal of cautionary and changes to t
SBG
SBG
Simeka - Withdrawal of cautionary and changes to the board of directors
Simeka BSG Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2003/012583/06)
(formerly Xantium Technology Holdings Limited)
Share code: SBG & ISIN code: ZAE000074878
("Simeka BSG" or "the company")
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT AND CHANGES TO THE BOARD OF DIRECTORS
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement published on inter alia
11 January 2006 and 21 November 2005 in respect of the proposed acquisition of
Sifikile Procurement Services (Proprietary) Limited ("Sifikile"). Shareholders
are advised that negotiations regarding the acquisition of Sifikile have been
terminated by mutual consent. Shareholders are no longer required to exercise
caution in their dealings in Simeka BSG shares.
CHANGES TO THE BOARD OF DIRECTORS
In accordance with Section 3.59 of the JSE Limited"s Listings Requirements,
shareholders are advised that Marc Schrader has been appointed to the board of
directors of Simeka BSG as an executive director with immediate effect. Marc is
one of the founding members of ITQ (Proprietary) Limited and has 17 years of
experience in the information technology sector.
Rosebank
3 March 2006
Designated advisor to Simeka BSG
Java Capital (Proprietary) Limited
Warning: The listing of the ordinary shares in the company is on the ALTX.
Shareholders are advised of the risks of investing in a company listed on the
ALTX. Shareholders are advised that the JSE does not guarantee the viability or
the success of a company listed on the ALTX. In terms of the JSE Listings
Requirements a designated advisor has to be retained by the company. The
designated advisor is required to, inter alia, attend all board meetings held by
the company to ensure that all JSE Listings Requirements and applicable
regulations are complied with, approve the financial director of the company and
guide the company in a competent, professional and impartial manner. If the
company fails to retain the designated advisor it must make arrangements to
appoint a new designated advisor within 10 business days, failing which the
company faces suspension of trading of its securities. If a designated advisor
is not appointed within 30 days of its suspension the company faces the
termination of its listing without an offer to minority shareholders.
Date: 03/03/2006 10:59:05 AM Produced by the JSE SENS Department
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