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PCN - Paracon Holdings Limited - Results of Scheme Meeting

Release Date: 01/11/2011 12:55
Code(s): PCN
Wrap Text

PCN - Paracon Holdings Limited - Results of Scheme Meeting Paracon Holdings Limited Incorporated in the Republic of South Africa (Registration number 1997/008181/06) Share code: PCN ISIN: ZAE000029674 ("Paracon" or "the Company") RESULTS OF SCHEME MEETING Shareholders are referred to the joint announcement released on SENS by Adcorp Holdings Limited ("Adcorp") and Paracon on 6 September 2011 in respect of the offer by Adcorp to acquire the entire issued share capital of Paracon, excluding the Paracon shares held by subsidiaries of Paracon ("Paracon Shares"), by way of a scheme of arrangement ("Scheme") in terms of section 114 of the Companies Act, 2008 (Act 71 of 2008), as amended, to be proposed by the board of directors of Paracon between Paracon and the holders of Paracon Shares ("Paracon Shareholders"). Paracon Shareholders are advised that at the shareholders meeting ("Scheme Meeting") held on Tuesday, 1 November 2011, convened to consider the Scheme in terms of the notice convening the Scheme Meeting contained in the Circular to Paracon Shareholders issued on 30 September 2011, both the special and ordinary resolutions were supported by 94.10% of the voting rights exercised on such resolutions. Paracon Shareholders are further advised that the Scheme remains subject to certain conditions precedent and once all the conditions precedent to the Scheme have been fulfilled or waived (in whole or in part), a further announcement will be made. Johannesburg 1 November 2011 Corporate Advisor and Sponsor to Paracon Merchantec Capital Legal Advisor to Paracon Werksmans Incorporated Date: 01/11/2011 12:55:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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