08 February 2008
8 February 2008
("Tradus" or the "Company")
Result of Shareholder Meetings
The Company is pleased to announce that, at the two meetings convened earlier
today in respect of the Recommended Cash Offer made for the Company by MIH
Internet B.V. (a wholly owned subsidiary of Naspers Limited), the resolutions
proposed at both meetings were duly passed by the requisite majorities.
The first meeting, convened in accordance with the order of the Court (the "
Court Meeting"), sought approval from shareholders for the Scheme of Arrangement
(the "Scheme") through which the Recommended Cash Offer is to be effected.
The results of the Court Meeting were as follows:
For: 25,737,735 representing 97.58% of votes cast
Against: 638,836 representing 2.42% of votes cast
The second meeting, a General Meeting of Tradus shareholders, sought approval
from shareholders for matters concerned with the implementation of the Scheme.
The results of the General Meeting were as follows:
For: 27,879,913 representing 97.24% of votes cast
Against: 751,312 representing 2.62% of votes cast
Withheld: 40,479 representing 0.14% of votes cast
Following these shareholder approvals, a Court hearing will need to take place
at which formal sanction of the Scheme (and the associated capital reduction)
will be sought. The date of the hearing to sanction the Scheme is expected to be
4 March 2008, and the hearing to confirm the capital reduction is expected to be
6 March 2008, but both hearings and the timing of them are dependent on whether
certain conditions, in particular clearance from the Polish competition
authority, are satisfied. If these conditions are met and the Court sanctions
the Scheme and confirms the capital reduction, it is expected that the Scheme
will become effective on 7 March 2008 and that the cancellation of the listing
of Tradus shares will take place on the same date.
For further enquiries please contact:
Alison Cabot, Investor Relations
Tom Parkinson, Company Secretary
Tel: +44 (0) 20 7384 6310
Juliet Clarke / Matt Dixon
Tel: +44 (0) 20 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange