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Results announcement: Category 1 disposal of M Squared Consulting Incorporated
KELLY GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/026249/06)
Share code: KEL
ISIN: ZAE000093373
(“the Company” or “Kelly Group”)
RESULTS ANNOUNCEMENT: CATEGORY 1 DISPOSAL OF M SQUARED CONSULTING
INCORPORATED
1. INTRODUCTION
Shareholders are referred to the SENS announcements made by the
Company on 12 April 2013 and on 11 June 2013 wherein shareholders
were advised that the Company had entered into an agreement with
SolomonEdwardsGroup, LLC (“SolomonEdwards”), in terms whereof the
Company would, subject to the fulfilment of certain conditions
precedent, dispose of its entire equity interest in its wholly owned
subsidiary M Squared Consulting Incorporated to SolomonEdwards,
constituting a category 1 disposal in terms of the Listings
Requirements of the JSE Limited (“the Transaction”).
Shareholders are further referred to the circular issued to
shareholders on 11 June 2013 setting out, inter alia, the detailed
terms of the Transaction and including a notice convening a general
meeting on 15 July 2013 (“the Notice of General Meeting”) to table
the Transaction for approval by shareholders of the Company.
2. RESULTS OF THE GENERAL MEETING
Shareholders are advised that at the general meeting of shareholders
held today, Monday, 15 July 2013, the requisite majority of
shareholders passed all resolutions as set out in the Notice of
General Meeting.
3. OUTSTANDING CONDITIONS PRECEDENT
Shareholders are advised that all conditions precedent to the
implementation of the Transaction are expected to be fulfilled on or
before the close of business, San Francisco time, on July 31, 2013
when the Transaction is expected to be implemented in accordance
with its terms. Shareholders will be advised when the final
condition precedent has been fulfilled and the Transaction
consummated.
Sandton
Monday, 15 July 2013
Sponsor and corporate advisor
PSG Capital
Date: 15/07/2013 10:42:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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