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CUH
CUH
CUH - Credit U Holdings - Results Of The Scheme Meeting And Court Hearing To
Sanction The Scheme
CREDIT U HOLDINGS LIMITED
(Formerly Kagisano Group Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2002/003827/06)
(JSE code: CUH ISIN: ZAE000115085)
("Credit U" or "the company")
RESULTS OF THE SCHEME MEETING AND COURT HEARING TO SANCTION THE SCHEME
1. INTRODUCTION
Shareholders are referred to the announcement released by Credit U on the
Securities Exchange News Service (SENS) of the JSE Limited and the press on
17 October 2008 regarding the convening of a scheme meeting ("scheme
meeting"), to consider and, if deemed fit, to agree to (with or without
modification) a scheme of arrangement ("the scheme") in terms of section 311
of the Companies Act, 1973 (Act 61 of 1973), as amended, proposed by Blue
Financial Services Limited between Credit U and its shareholders ("scheme
members").
2. RESULTS OF THE SCHEME MEETING
Shareholders are advised that the scheme has been approved by 100% of the
votes exercised by scheme members present in person, by proxy or represented
at the scheme meeting held on Wednesday, 12 November 2008.
Copies of the scheme chairman`s report on the scheme meeting will be
available on request from the offices of Credit U at Eco Fusion 4, Block B,
Witch Hazel Street, Highveld, Centurion; and at the offices of Exchange
Sponsors (Pty) Limited at 44A Boundary Road, Inanda, 2196 during normal
business hours from Tuesday, 18 November 2008.
3. COURT HEARING TO SANCTION THE SCHEME
Application will be made to the High Court of South Africa (Transvaal
Provincial Division) on Tuesday, 25 November 2008 at 10:00 or as soon
thereafter as Counsel may be heard for an order sanctioning the scheme. The
Court is located in the High Court Building corner of Vermeulen Street and
Paul Kruger Street, Pretoria. A further announcement regarding the outcome of
the application to the Court will be made.
4. REMAINING SALIENT DATES
The remaining salient dates applicable to the implementation of the scheme,
remain as originally set out in the circular sent to Credit U shareholders on
17 October 2008.
Johannesburg
12 November 2008
Designated Adviser and Corporate Adviser to Credit U:
Exchange Sponsors
Attorneys to Credit U:
Edelstein Bosman
Date: 12/11/2008 15:10:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS. |
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