JCD
JCD
JCI - Announcement to JCI Shareholders
JCI LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1894/000854/06)
Share code: JCD & ISIN: ZAE000039681 (Suspended)
("JCI")
ANNOUNCEMENT TO JCI SHAREHOLDERS
Introduction
JCI shareholders are referred to the circular ("circular") to JCI
shareholders issued on 14 September 2006, relating to the disposal by
Letseng Investment Holdings South Africa (Proprietary) Limited of its 76%
equity interest in Letseng Diamonds (Proprietary) Limited ("Letseng
disposal") and the ratification of the Investec loan agreement ("Investec
Loan").
Incorporated in the circular was the required notice of general meeting
("General Meeting") to be held on 29 September 2006 in the Auditorium, 28
Harrison Street, Johannesburg for the purpose of considering, and if deemed
fit, passing, with or without modification, the ordinary resolutions to
ratify and approve the Letseng disposal and ratify the entering into by JCI
of the Investec Loan.
After the posting of the circular, an application to High Court of South
Africa (Witwatersrand Local Division) was made by a JCI shareholder,
Letseng Diamonds Limited, ("Applicant") to interdict and restrain JCI from
dealing with the ordinary resolutions ("Investec Resolutions") relating to
the ratification of the Investec Loan at the general meeting.
JCI intends to respond to the application and has reached the following
agreement:
- at the general meeting, voting shall take place in respect of the
Letseng resolutions reflected in the circular; and
- the Investec resolutions in the circular shall not be tabled or put to
shareholders at the general meeting.
The Court has ordered that the general meeting shall be adjourned to 30
November 2006.
JCI shareholders will be advised of any further developments in this
regard.
29 September 2006
Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 29/09/2006 12:29:04 PM Produced by the JSE SENS Department
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