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SCHARIG/SCHAMIN/ARGENT - RESULTS OF GENERAL MEETING

Release Date: 09/11/2000 16:01
Code(s): SCN SCG ART
Wrap Text
SCHARRIGHUISEN HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1969/08588/06)
("SCHARIG")
ARGENT INDUSTRIAL LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1993/02054/06)
("ARGENT")
SCHARRIG MINING LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1992/01973/06)
("SCHAMIN")
RESULTS OF GENERAL MEETING

MANHATTAN EQUITY IS AUTHORISED TO ANNOUNCE THAT AT THE SCHARIG GENERAL MEETING HELD ON WEDNESDAY, 8 NOVEMBER 2000, THE SPECIAL AND ORDINARY RESOLUTIONS REQUIRED TO APPROVE THE:
- UNBUNDLING OF SCHARIG'S SHAREHOLDING IN ARGENT AND SCHAMIN IN TERMS OF SECTION 60 OF THE INCOME TAX ACT 1993, AS AMENDED;
- THE DISTRIBUTION OF ARGENT AND SCHAMIN SHARES TO SCHARIG SHAREHOLDERS; AND - A MEMBERS VOLUNTARY WINDING-UP OF SCHARIG WERE PASSED BY THE REQUISITE MAJORITY OF SCHARIG ORDINARY SHAREHOLDERS.
SHAREHOLDERS REGISTERED AT THE CLOSE OF BUSINESS TODAY, WILL RECEIVE
APPROXIMATELY 0,801191 ARGENT AND 2,607658 SCHAMIN SHARES AND 9,7 CENTS CASH FOR EACH SCHARIG SHARE HELD.
SCHARIG'S LISTING WILL BE SUSPENDED AT THE CLOSE OF BUSINESS TODAY AND ITS LISTING TERMINATED FROM THE "PRIVATE EQUITY" SECTOR OF THE JOHANNESBURG STOCK EXCHANGE LISTS AT THE CLOSE OF BUSINESS ON FRIDAY, 17 NOVEMBER 2000.
THE SPECIAL RESOLUTIONS PASSED HAVE BEEN LODGED WITH THE REGISTRAR OF COMPANIES FOR REGISTRATION. JOHANNESBURG 09 NOVEMBER 2000 CORPORATE ADVISERS (MANHATTAN EQUITY) ATTORNEYS (ROSSOUWS) AUDITORS (ETCHELLS LEE OOSTHUIZEN INC.) SPONSORING BROKERS (INDEPENDENT SECURITIES) INDEPENDENT SECURITIES (PROPRIETARY) LIMITED MEMBER OF THE JOHANNESBURG STOCK EXCHANGE (REGISTRATION NUMBER 98/01650/07) ARMSTRONG AND ASSOCIATES END

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