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Rainbow announces results of AGM

At the 38th annual general meeting of shareholders of Rainbow held today, Wednesday 28 July 2004, the following transpired:

* Ordinary resolution number 3 relating to the re-appointment of Deloitte & Touche as auditors for the forthcoming year was withdrawn. Pursuant to the posting of the annual general meeting notice, in order to bring the external service provider in line with the rest of the Remgro group of companies, it had been agreed that Deloitte & Touche would resign and PriceWaterhouseCoopers were appointed as auditors of the company with effect from 28th July 2004.

* The requisite majority of shareholders approved all the ordinary and special resolutions proposed in the notice to shareholders.

* Mr Desmond John Loch Davis has retired as non-executive director from the board of Rainbow.