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EFFICIENT GROUP LIMITED - Results of general meeting and changes to the board of directors

Release Date: 07/03/2014 14:35
Code(s): EFG     PDF:  
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Results of general meeting and changes to the board of directors

EFFICIENT GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 2006/036947/06)
JSE share code: EFG ISIN: ZAE 000151841
(“the Company” or “Efficient”)

RESULTS OF GENERAL MEETING AND CHANGES TO THE BOARD OF DIRECTORS

Shareholders are referred to the Efficient circular issued on 6 February 2014 relating to:

-       the proposed acquisition by Efficient of all of the shares in Verso Investment Services
        Proprietary Limited (“VIS”) (“the acquisition”);
-       upon implementation of the acquisition, the granting of financial assistance, as contemplated
        in section 45 of the Companies Act, 2008, by Efficient to VIS;
-       the proposed specific issue of 937 500 Efficient shares for cash at a price of R1.60 per share to
        LLA Attorneys Incorporated in discharge of the Company’s obligation to make payment of a
        corporate advisory fee in relation to the acquisition, subject to the implementation of the
        acquisition;
-       the proposed specific issue of 680 000 Efficient shares for cash at a price of R2.50 per share to
        employees of the VIS group, subject to the implementation of the acquisition; and
-       the proposed specific issue of 1 624 400 Efficient shares for cash at a price of R2.50 per share
        to employees of the Efficient group,

and enclosing:

-       a notice of general meeting of Efficient shareholders (“the notice”).

Shareholders are advised that at the Company’s general meeting held today at 81 Dely Road,
Hazelwood, Pretoria:

-       all shareholder resolutions set out in the notice were passed by the requisite majority of
        shareholders; and
-       accordingly, with effect from 7 March 2014, Mr Christo Burger has been appointed as a
        director of the board of directors of the Company and Mr Fred Liedtke has been appointed
        as his alternate.

7 March 2014


Corporate advisor and sponsor

Java Capital

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