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EMI FSP
EMI FSP
EMI/FSP - Emira/Freestone - Results of the general meeting and court
hearing
Emira Property Fund
A property fund created under the Emira Property Scheme, registered in
terms of the Collective Investment Schemes Control Act
Share Code: EMI
ISIN ZAE000050712
("Emira")
Freestone Property Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2001/011887/06)
Share code: FSP
ISIN: ZAE000060299
("Freestone")
RESULTS OF THE GENERAL MEETING AND COURT HEARING
Emira participatory interest ("PI") holders and Freestone linked
unitholders are referred to the circular to Emira PI holders dated 12 March
2007, relating to the acquisition by Emira of 100% of the issued linked
units of Freestone by way of a scheme of arrangement in terms of section
311 of the Companies Act, 1973, proposed by Emira between Freestone and its
linked unitholders ("the scheme" or "the acquisition") and a future
specific issue of PIs for cash.
At the general of meeting Emira PI holders held on Tuesday, 27 March 2007,
all the resolutions necessary to implement the acquisition and the future
specific issue of PIs for cash, were approved by the requisite majority of
Emira PI holders.
An Order of Court sanctioning the scheme was also granted by the High Court
of South Africa (Witwatersrand Local Division) on 27 March 2007.
Emira PI holders and Freestone linked unitholders are reminded that the
acquisition remains subject to a certified copy of the Order of Court being
registered by the Registrar of Companies. It is anticipated that the
acquisition will be implemented on the operative date of the scheme which
is expected to be Monday, 16 April 2007, resulting in the effective date
being 1 April 2007.
Sandton
27 March 2007
Merchant bank and joint sponsor to Emira
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Lead sponsor to Emira
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
Corporate advisor, legal advisor and sponsor to Freestone
Java Capital (Proprietary) Limited
Attorneys to the scheme
Hofmeyr Herbstein & Gihwala Inc.
Date: 27/03/2007 16:42:01 Produced by the JSE SENS Department.
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