KLG
KLG
Kelgran - Remaining dates and times pertaining to the distribution &
Resignation of Directors
KELGRAN LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1975/004595/06)
Share code: KLG & ISIN: ZAE00003885
("Kelgran" or "the company")
REMAINING DATES AND TIMES PERTAINING TO THE DISTRIBUTION
RESIGNATION OF DIRECTORS
Further to the announcement dated 31 March 2006, shareholders are advised that
the Competition Commission approved the implementation of the transaction which
resulted in Kelgran disposing of its remaining 49% interest in,and claims
against, Kelgran Investments (Pty) Limited to JVK S.r.l ("the transaction"). As
all the conditions precedent have been fulfilled the transaction is now
unconditional. In terms of the agreement governing the transaction, the "closing
date" of the transaction was Friday, 29 September 2006, being the date on which
JVK S.r.l settled the transaction consideration.
As previously disclosed, the company will now proceed with a cash distribution
of 27 cents per share out of share premium ("the distribution"), such that
following the distribution the company will have a minimum cash balance of R1
million.
In this regard, set out below are the salient dates pertaining to the
distribution:
2006
Last day to trade in order to participate
in the distribution on Friday, 20 October
Shares trade "ex" the entitlement
to participate in the distribution on Monday, 23 October
Record date to participate in the distribution on Friday, 27 October
Payment date for the distribution on Monday, 30 October
Shareholders are also advised that Messrs van Wyk and di Capua have resigned as
directors of the company with effect from 26 September 2006.
Johannesburg
4 October 2006
Sponsor and corporate advisor
BRIDGE CAPITAL
Attorneys
ROUTLEDGE MODISE MOSS MORRIS ATTORNEYS
Date: 04/10/2006 04:15:10 PM Produced by the JSE SENS Department
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