GMB
GMB
Glenrand - Postponement of the sanctioning of the scheme of arrangement
GLENRAND MIB LIMITED
(a Licensed Financial Services Provider)
(Incorporated in the Republic of South Africa)
(Registration number 1997/008001/06)
Share code: GMB & ISIN: ZAE000018529
("Glenrand")
POSTPONEMENT OF THE SANCTIONING OF THE SCHEME OF ARRANGEMENT
Glenrand ordinary shareholders are referred to the announcement dated 17 March
2006 relating to the facilitation of the increase of Glenrand"s black
shareholder base through a broad-based black employee share scheme and a black
business partner scheme and are advised that the sanctioning of the scheme of
arrangement in terms of section 311 of the Companies Act (Act 61 of 1973), as
amended, proposed by Risk Funding Services (Proprietary) Limited, a 100% owned
subsidiary of Glenrand and the trustees of the Glenmib Employee Empowerment
Trust ("Glenmib Trust"), between Glenrand and its shareholders (other than
Kunene Finance Company (Proprietary) Limited, the Glenmib Employee Scheme Trust
and the Glenmib Trust), was postponed by the High Court of South Africa
(Witwatersrand Local Division) on Tuesday, 28 March 2006 until Thursday, 30
March 2006.
A further announcement will be released on SENS and published in the South
African press following the hearing by the High Court.
Randburg
28 March 2006
Investment bank, transaction advisor and sponsor
Nedbank Capital
Independent reporting accountants
KPMG
Legal advisor
Deneys Reitz Inc
Independent advisor
EY Corporate Finance (Pty) Ltd
Date: 28/03/2006 04:05:07 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
