To view the PDF file, sign up for a MySharenet subscription.

SASFIN HOLDINGS LIMITED - Results of general meeting

Release Date: 19/09/2017 13:55
Code(s): SFNP SFN     PDF:  
Wrap Text
Results of general meeting

SASFIN HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/002097/06)
Ordinary share code: SFN ISIN: ZAE000006565
Preference share code: SFNP ISIN: ZAE000060273
(“Sasfin” or “the Company”)


RESULTS OF GENERAL MEETING



Sasfin shareholders (“Shareholders”) are referred to the circular dated 21 August 2017 regarding the implementation,
subscription and relationship agreement that Sasfin entered into with Women Investment Portfolio Holdings Limited
(“WIPHOLD”) and WIPHOLD’s wholly-owned subsidiary Sinvent Investments 245 Proprietary Limited (“WIPHOLD
SPV”) on 7 June 2017 in terms of which, inter alia:

-        WIPHOLD SPV will subscribe for Sasfin ordinary shares (“Shares”) at R51.00 per Share in terms of a specific
         issue of shares for cash (“Subscription”); and
-        Sasfin will make an offer to repurchase all or some of the Shares held by Shareholders (“Repurchase Offer”)
         at R51.00 per Share in compliance with all of the applicable requirements for a scheme of arrangement in
         terms of section 114 of the Companies Act, 71 of 2008 (as amended) (“Companies Act”) as read with section
         115 of the Companies Act.

The Subscription and Repurchase Offer (collectively “Transaction”) are indivisibly linked and the Transaction is still
subject to the fulfilment of certain conditions precedent including, the approval of the South African Registrar of Banks.

Shareholders are advised that at the general meeting held today, 19 September 2017 (“GM”), the resolutions set out
below with regard to the Transaction were duly approved by the requisite majority of shareholders present and voting.

Details of the results of the voting are as follows:


    Resolution                                 Shares voted for       Shares voted            Shares          Shares voted
                                                                        against              abstained



    Special Resolution Number 1
                                                   24 593 386            515 944               31 599          25 109 330
    Specific authority to issue Shares for          97.95%                2.05%                0.10%
    cash



    Special Resolution Number 2
                                                   25 107 330             2 000                31 599          25 109 330
    Approval of the share repurchase in             99.99%                0.01%                0.10%
    accordance with section
    48(8)(a) of the Companies Act



    Special Resolution Number 3
                                                   25 107 330             2 000                31 599          25 109 330
    Repurchase resolution (in accordance            99.99%                0.01%                0.10%
    with sections 48(8)(b) and
    115(2) of the Companies Act)
  Special Resolution Number 4
                                                25 109 330             0               31 599         25 109 330
  Revocation of Special Resolution                100%              0.00%              0.10%
  Number 3 if the Repurchase
  Offer is not implemented and
  dissenting Shareholders have
  exercised their appraisal rights
  under section 164 of the Companies
  Act



  Ordinary Resolution Number 1
                                                25 135 830             0               5 099          25 135 830
  Authority granted to directors                  100%              0.00%              0.02%


Notes:

1. There were 32 301 441 Shares in issue as at the date of the GM.
2. 25 140 929, Shares were present/represented including proxies at the GM being 77.83% of the total number of
   Shares in issue.
3. Abstentions are represented as a percentage of the total number of Shares in issue while the Shares voted for
   and against are represented as a percentage of the Shares voted.



Johannesburg
19 September 2017

Sponsor
Sasfin Capital (a member of the Sasfin Group)

Independent Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited

Date: 19/09/2017 01:55:00 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.

Share This Story