Tolux S.A. - Result of EGM, etc

RNS No 1087d
TOLUX S.A. 
(TO BE RENAMED BRAIT S.A.)
31st July 1998


RESULTS OF EXTRAORDINARY GENERAL MEETING
LISTING OF NEW BRAIT SHARES

Further to the announcement dated 3 July 1998, Brait shareholders are advised
that, at an extraordinary general meeting held in Luxembourg on Wednesday, 29
July 1998, the resolutions required to implement the following transactions were
passed by the requisite majority of shareholders:

* the acquisition of the entire issued share capital of Capital Alliance Bank
Limited, Capital Alliance Asset Managers (Proprietary) Limited, Capital
Alliance Management Company Limited and Capital Alliance Property Holdings
Limited, as well as 55% of Decimax (Proprietary) Limited and 50% of African
Alliance Limited ("the Capital Alliance banking business"); and

* the acquisition of the entire issued share capital of Capital Partners Limited
and the Capital Partners Group Holdings Limited (collectively "Capital
Partners").

In addition, resolutions were passed to, inter alia, increase the company's
authorised share capital, amend the articles of incorporation, reconsitute the
board of directors and change the name of the company to Brait S.A.

Accordingly, the transactions described above will become unconditional and 89
555 491 Brait shares will be issued or transferred to the vendors of the Capital
Alliance banking businesses and of Capital Partners (or their nominees) on
Monday 3 August 1998.  Dealings in these shares will commence on the Luxembourg
Stock Exchange and the Johannesburg Stock Exchange on Monday, 3 August 1998.  It
is expected that dealings in the shares will commence on the London Stock
Exchange on Tuesday, 4 August 1998.


END

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