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Results Of The Scheme Meeting
RARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2002/025247/06
Share Code: RAR ISIN: ZAE000180626
("Rare" or "the Company")
RESULTS OF THE SCHEME MEETING
Rare shareholders are referred to the announcement published
by Rare on 22 June 2016 (“the Announcement”), regarding the
firm intention of Mayfair Speculators Proprietary Limited
(“the Offeror”) to make an offer to acquire all ordinary
shares in Rare, excluding those ordinary shares held by the
Offeror, Stafric Investment and Management Services
Proprietary Limited (“Stafric”) and Doculate Investments
Proprietary Limited (“Doculate”), being 5 345 825 ordinary
shares (“Scheme”).
In addition, Rare shareholders are referred to the
announcement published by Rare on 25 July 2016, whereby shareh
olders were advised that the Scheme Circular, incorporating a
notice convening a general meeting of shareholders at which a
special resolution would be considered for purposes of approvi
ng the Scheme (“Scheme Meeting”) had been distributed to share
holders.
Shareholders are hereby advised that the Scheme Meeting was
held today, 24 August 2016 at Rare’s offices at 22 Old Vereeni
ging Road, Kliprivier, Midvaal and that the special resolution
s were passed by the requisite majority of Rare shareholders.
The implementation of the Scheme remains subject to the fulfil
ment (or waiver, where applicable) of all the outstanding Sche
me Conditions and the terms envisaged in the Scheme Circular.
The detailed voting results of the Scheme Meeting are set out
below:
Percentage
FOR (Being Percentage
the Percentage ABSTAINED
percentage AGAINST (Being the
of the (Being the percentage
total percentage of the
Number of shares of the total
shares Number of voted) total shares
entitled shares shares entitled
Resolution to vote voted voted) to vote)
Special 5 336 088 4 226 552 82. 41% 17.59% 20.79%
resolution
1:
Approval
of the
Scheme
Special 5 336 088 4 226 552 82.41% 17.59% 20.79%
resolution
2:
Revocation
of Special
Resolution
1
Note – The voting rights exercisable by the Offeror, Doculate
and Stafric were not taken into account for any purposes in re
spect of the resolution listed above.
IMPORTANT DATES AND TIMES
Shareholders are referred to the important dates and times set
out in the announcement released by Rare on 25 July 2016 and i
n the Scheme Circular (which is available on Rare’s website at
www.rare.co.za), which set out the remaining important dates a
nd times relating to the Scheme.
INDEPENDENT BOARD RESPONSIBILITY STATEMENT
The independent board of Rare established to consider the
Scheme accepts responsibility for the information contained in
this announcement and, to the best of its knowledge and belief,
confirms that the information is true and this announcement
does not omit anything likely to affect the importance of the
information included.
By order of the Board
Kliprivier
24 August 2016
Transaction Advisor and Designated Advisor: PSG Capital (Pty)
Limited
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