Crookes Brothers: Shareholders Greenlight Game-Changing Disposal

  • Crookes Brothers shareholders overwhelmingly approved the Vyeboom Fruit Farm Disposal with a 92.63% vote in favor.
  • All Suspensive Conditions have been met, paving the way for immediate implementation of the Disposal Agreement.
  • The strategic shift signals significant changes for Crookes Brothers and South Africa's agricultural landscape.

In a decisive move that could reshape the future of agriculture in South Africa, shareholders of Crookes Brothers Limited gathered today, September 8, 2023, for a General Meeting to cast their votes on a pivotal decision – the approval of the Vyeboom Fruit Farm Disposal. The results are in, and the majority has spoken, heralding a new chapter for one of South Africa’s leading agricultural companies.

A Resounding Majority Vote

Shareholders, both in person and represented by proxy, exhibited strong support for the proposed Disposal Agreement, with an overwhelming 92.63% voting in favor. The numbers tell a compelling story – out of 15,264,317 total shares in issue, 11,023,821 were cast in favor of the Disposal Agreement, while 876,853 opposed it. There were no abstentions, reflecting the clarity of intent among shareholders present.

The second resolution, which authorized directors and the company secretary to implement the Disposal Agreement, mirrored the first in its approval rate, with 92.63% voting in favor and 7.37% against. This synchronized voting underscores the unity of purpose among Crookes Brothers shareholders in this critical decision.

Fulfillment of Suspensive Conditions

Perhaps equally significant as the resounding approval is the confirmation that all Suspensive Conditions have been met. This vital step paves the way for the immediate implementation of the Disposal Agreement as outlined in the Circular dated August 7, 2023.

The Vyeboom Fruit Farm Disposal

The Vyeboom Fruit Farm Disposal is not just any transaction; it is a strategic move by Crookes Brothers Limited that has garnered substantial attention. While the article does not delve into the specifics of the Disposal Agreement, it is clear that this decision marks a pivotal moment for the company. The Vyeboom Fruit Farm, known for its quality produce, has been an integral part of Crookes Brothers’ agricultural portfolio, and this disposal reflects a strategic shift in the company’s focus.

What Lies Ahead

With the Disposal Agreement approved and Suspensive Conditions fulfilled, Crookes Brothers is poised to move forward with its strategic plans. The implications of this decision for the agricultural landscape in South Africa will undoubtedly be a topic of interest and discussion in the coming days.

Closing Thoughts

The resounding approval of the Vyeboom Fruit Farm Disposal Agreement at today’s General Meeting marks a significant milestone for Crookes Brothers Limited. The decisive support from shareholders underscores their confidence in the company’s strategic direction and their belief in the potential benefits of this transaction.

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