DISTELL GROUP LIMITED - Results of general meeting

Release Date: 17/01/2014 12:00
Code(s): DST
 
Wrap Text
Results of general meeting

Distell Group Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1988/005808/06)
Share code: DST ISIN: ZAE000028668
(“Distell” or the “Company”)



RESULTS OF GENERAL MEETING: THE PROPOSED RESTRUCTURING OF THE BLACK
ECONOMIC EMPOWERMENT (“BEE”) TRANSACTION ENTERED INTO IN 2005 (“ORIGINAL BEE
TRANSACTION”), IN TERMS OF WHICH BEE PARTNERS WERE INTRODUCED AS INDIRECT
SHAREHOLDERS OF SOUTH AFRICAN DISTILLERIES AND WINES (SA) LIMITED (“SADW”)


Shareholders of Distell are referred to the announcement dated 6 December 2013, in connection with
the circular to shareholders and notice of general meeting for the following:

-    Approval of the amendments to the Put Option
-    Approval of the amendments to the terms of the WIP Beverages Preference Shares
-    Authority to directors to implement all resolutions
-    Loans or other financial assistance to WIP Beverages
-    Issue of shares to the CSI Trust


Shareholders of Distell are advised that at the general meeting of Distell shareholders held at the
Auditorium of The House of J.C. Le Roux, Devon Valley Road, Devon Valley, Stellenbosch, Western
Cape on Friday, 17 January 2014, the necessary resolutions to amend the terms of the Put Option, to
give effect to the proposed restructuring of the Original BEE Transaction and to amend the terms of
the WIP Beverages Preference Shares, as detailed in the circular posted to Distell shareholders dated
17 December 2013, were passed by the requisite majority shareholders.

Stellenbosch
17 January 2014

Investment bank and transaction sponsor to Distell
Investec Bank Limited

Sponsor to Distell
Rand Merchant Bank (A division of FirstRand Bank Limited)

Corporate law adviser to Distell
Edward Nathan Sonnenbergs Incorporated

Reporting accountants to Distell
PricewaterhouseCoopers Incorporated

Corporate law advisers to WIPHOLD Distilleries
DLA Cliffe Dekker Hofmeyr Incorporated

Transaction advisers to WIPHOLD Distilleries
WIP Capital Proprietary Limited

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