CIG Shareholders are referred to the announcement released on SENS on 30 July 2018 wherein CIG Shareholders were advised that the EGM Circular to CIG Shareholders detailing the Proposed Transaction, incorporating the notice of General Meeting and form of proxy had been posted.
CIG advised that the results of the General Meeting held on Wednesday, 29 August 2018, at which all of the Transaction Resolutions tabled thereat and required to implement the Proposed Transaction, were passed by the requisite majority of CIG Shareholders. The Board and the management team are pleased with this outcome as the proceeds of the Proposed Transaction will materially strengthen the Company’s balance sheet and provide the headroom required for CIG to deliver on its corporate strategy and manage the business optimally. Notwithstanding the challenging macroeconomic backdrop, CIG is excited about the prospects of its business and believes that the Proposed Transaction enables it to take advantage of the opportunities that will drive significant value creation for CIG Shareholders.
The special resolution/s will, where necessary, will be lodged for registration with the Companies and Intellectual Property Commission in due course.