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Results of the meeting to adopt the proposed business rescue plan
MASONITE (AFRICA) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1942/015502/06)
Share code: MAS ISIN: ZAE000004289
(“Masonite” or “the Company”)
(Under supervision)
RESULTS OF THE MEETING TO ADOPT THE PROPOSED BUSINESS RESCUE PLAN
Masonite shareholders (“Shareholders”) are referred to the announcement released by
Masonite on the Stock Exchange News Service on 5 May 2016 (“SENS Announcement”), which
advised Shareholders of the publication of the proposed business rescue plan (“the Plan”) and
of the meeting (“Meeting”) in terms of section 150 and 151 of the Companies Act, No. 71 of 2008,
as amended, as well as the announcement released on Monday, 16 May 2016 where
Shareholders were advised that the Meeting and voting on the Plan was adjourned until
Thursday, May 19, 2016. (“Adjourned Meeting”).
The purpose of the Adjourned Meeting was to obtain creditor and Shareholder approval of the
Plan, details of which were summarised in the SENS Announcement. Shareholders are advised
that at the Adjourned Meeting, the Plan was approved by the requisite majority of creditors and
Shareholders.
Details of the results of the voting at the Meeting are as follows:
Proposal to adjourn the Adjourned Meeting for 45 business days as requested by TWK
Investments Limited
Percentage value of Percentage for Percentage against Percentage
creditors voted abstentions
88.9% - 100% -
Issued share capital For Against Abstentions
voted
5 775 324, being 183 422, being 3.2% 5 591 902, being -
80.9% 96.8%
Proposal to adjourn the Adjourned Meeting for 7 days as requested by Sappi South
Africa Limited
Percentage value of Percentage for Percentage against Percentage
creditors voted abstentions
88.9% - 100% -
Issued share capital For Against Abstentions
voted
5 775 324, being 183 422, being 3.2% 5 591 902, being -
80.9% 96.8%
Approval of the proposed amendment to the Plan
Percentage value of Percentage for Percentage against Percentage
creditors voted abstentions
88.9% 100% - -
Issued share capital For Against Abstentions
voted
5 775 324, being 5 775 324, being - -
80.9% 100.0%
Approval of the Plan, as amended
Percentage value of Percentage for Percentage against Percentage
creditors voted abstentions
88.9% 100% - -
Issued share capital For Against Abstentions
voted
5 775 324, being 5 592 052, being 183 272, being 3.2% -
80.9% 96.8%
Approval of the business rescue practitioner success fee
Percentage value of Percentage for Percentage against Percentage
creditors voted abstentions
88.9% 100% - -
Issued share capital For Against Abstentions
voted
5 775 324, being 5 592 052, being 183 272, being 3.2% -
80.9% 96.8%
The Plan, as amended, remains subject to a number of conditions precedent and a further
announcement or announcements will be released regarding the fulfilment and/or waiver of the
outstanding conditions precedent to the transactions at the appropriate time/s.
Durban
19 May 2016
Investment Bank
Investec Bank Limited
Sponsor
Nedbank Corporate and Investment Banking
Legal Advisors
Norton Rose Fulbright South Africa Inc.
Communication Advisors
Brunswick Group
Date: 19/05/2016 05:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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