| Thu 26 Oct 2006, 16:01 | | Idion - Results Of General Meeting |
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IDI
IDI
Idion - Results Of General Meeting
IDION TECHNOLOGY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013846/06)
Share code: IDI & ISIN: ZAE000022513
("IDION")
RESULTS OF GENERAL MEETING
Shareholders are advised that at the general meeting of shareholders of the
company held at 11:00 on Thursday, 26 October 2006 the requisite majority of
shareholders approved the ordinary and special resolutions as contained in the
notice convening that general meeting, relating inter alia to:
- the disposal in terms of Section 228 of the Companies
Act, 1973 (Act 61 of 1973), as amended, by IDION of
the issued share capital held by it in Vision Solutions
International, Inc. ("Vision"), to IS Holdings III,
Inc., a subsidiary of Thoma Cressey Equity Partners,
Inc. ("TCEP");
- the distribution of the purchase consideration
(amount to be confirmed) to shareholders in terms of
section 90 of the Companies Act and the articles of
association of the Company; and
- the suspension and termination of the listing of the
shares of IDION on the JSE Limited;
- the subsequent voluntary winding up of IDION.
It is expected that the transaction will close on Tuesday, 31 October 2006.
Further details regarding the exact distribution and the underlying assumptions
(exchange rate) used will be announced on SENS on or about Friday, 3 November
2006 and in the press on or about Monday, 6 November 2006.
Accordingly, having regard to disclosures made above, -shareholders are reminded
of the following salient dates:
2006
Expected last day to trade in shares of
IDION in order to be entitled to Friday, 10 November
receive payment of distribution on
Expected date for suspension by the JSE Monday, 13 November
of shares of IDION on
Expected record date for shares to
appear in the register of IDION for Friday, 17 November
entitlement to payment of distribution
on
Expected date for payment of Monday, 20 November
distribution on
Expected date for the termination of
the listing of the shares of IDION on Tuesday, 21 November
the JSE from the commencement of trade
on the JSE on
Notes:
1. No dematerialisation or rematerialisation of IDION documents of
title may take place after Friday, 10 November 2006.
2. Distribution payments to certificated shareholders will be
effected by way of a cheque. All monies payable by cheque will be
sent by registered post, to:
- the address of the shareholder as set forth in the register; or
- in the case of joint registered shareholders, the registered address of the
shareholder who is first named in the register in respect of those shares; or
- such other address as may be designated in writing by the shareholder.
3. Payment of cheques sent in terms of 2 above, shall be a complete discharge by
IDION of its relevant payment obligations in terms of the distribution.
4. Distribution payments to dematerialised shareholders will be
effected to the relevant dematerialised shareholder"s account at his CSDP or
broker, as the case may be, in accordance with the terms of the agreement
entered into between the dematerialised shareholder and his CSDP or broker.
Payment to the CSDP or broker as contemplated herein shall be a complete
discharge by IDION of its relevant payment obligations in terms of the
distribution.
5. If after the distribution, the adjustment amount (if any), and
after taking account of the anticipated winding up costs, there is a surplus
available then there will be a further distribution to shareholders.
CENTURION
26 October 2006
Corporate advisor and sponsor to IDION
PricewaterhouseCoopers
Corporate Finance (Pty) Ltd
Registration number 1970/003711/07
Date: 26/10/2006 04:01:38 PM Produced by the JSE SENS Department
