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PSG - RESULTS OF GENERAL MEETING

Release Date: 31/05/1999 08:34
Code(s): PSG
Wrap Text
PSG GROUP LIMITED
(REGISTRATION NUMBER 70/08484/06)
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
("PSG" OR "THE COMPANY")
RESULTS OF GENERAL MEETING

AT THE GENERAL MEETING OF SHAREHOLDERS OF PSG HELD ON FRIDAY, 21 MAY 1999, THE FOLLOWING SPECIAL RESOLUTION WAS PASSED BY THE REQUISITE MAJORITY OF SHAREHOLDERS:
SUBJECT TO THE CONSENT OF ALL THE COMPANY'S CREDITORS BEING OBTAINED, WITH EFFECT FROM FRIDAY, 4 JUNE 1999, THE COMPANY'S SHARE PREMIUM ACCOUNT, WHICH PRESENTLY STANDS AT R301 062 054,36 BE REDUCED TO R286 745 354,46 BY WRITING OFF AGAINST SUCH ACCOUNT AN AMOUNT OF R14 316 699,90 AND DISTRIBUTING SAME TO SHAREHOLDERS REGISTERED AS SUCH ON 28 MAY 1999 AT THE RATE OF 15 CENTS PER SHARE. STELLENBOSCH 31 MAY 1999 SPONSORING BROKER PSG SECURITIES LIMITED REGISTRATION NUMBER 96/00509/06 MEMBER OF THE JOHANNESBURG STOCK EXCHANGE

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