|
Ninian And Lester Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/002769/06)
Share code: NIN ISIN: ZAE000004917
("Ninian" or "the company")
Results of general meeting
1. INTRODUCTION
Investec Bank Limited is authorised to announce that, at the general meeting
of Ninian shareholders held on Tuesday, 4 February 2003, the special and
ordinary resolutions required to give effect to the proposals by the board of
directors of Ninian, that:
- the listing of Ninian`s shares on the JSE Securities Exchange South Africa
("JSE") be voluntarily terminated; and
- the company makes an offer to all its shareholders to repurchase their
shares for a cash consideration of 850 cents per share ("the repurchase offer"),
were duly passed by the requisite majority of Ninian shareholders.
The special resolution, authorising the company to implement the repurchase
offer, is in the process of being registered with the Registrar of Companies.
2. SALIENT DATES
2003
Last day to trade Ninian shares to qualify to
participate in the repurchase offer Friday, 14 February
Listing of Ninian`s shares on the JSE suspended at
the commencement of trade Monday, 17 February
Repurchase offer closes at 16h00 (see note 1) Friday, 21 February
Record date for determining which shareholders
are to remain shareholders in the unlisted company Friday, 21 February
Subject to valid acceptance of the repurchase offer
by Friday, 21 February 2003, payment will be made
to all those shareholders who have not yet received
payment for their Ninian shares Monday, 24 February
Listing of Ninian`s shares on the JSE terminated at
the commencement of trade (see note 3) Tuesday, 25 February
Notes:
1. Dematerialised shareholders are required to notify their duly appointed
Central Securities Depositary Participant ("CSDP") or broker, as the case may
be, of their intention to accept the repurchase offer in the manner and time
stipulated in the agreement governing the relationship between the shareholder
and his/her CSDP or broker.
2. Shares may not be dematerialised after Friday, 14 February 2003, but may
still be rematerialised after Friday, 14 February 2003.
3. Payment to shareholders accepting the repurchase offer will be made within 7
days of valid acceptance of the repurchase offer being received, but no later
than Monday, 24 February 2003. In the case of certificated shareholders, such
payment will be made by cheque or deposited directly into the shareholders` bank
account, whichever a shareholder may instruct, at the risk of the shareholder
concerned. In the case of dematerialised shareholders, payment will be made by
crediting their account at the CSDP or broker, as the case may be, as agreed to
between the shareholder and the CSDP or broker.
4 February 2003
Durban
Merchant Bank
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Attorneys
Werksmans Incorporated
(Registration number 1990/007215/21)
Sponsor
Investec Securities Limited
Member of the JSE
(Registration number. 1972/008905/06)
Date: 04/02/2003 11:40:00 AM Produced by the JSE SENS Department
|
|
