WLL
WLL
WLL - Wellco - Announcement
WELLCO HEALTH LIMITED
(Registration No: 2005/005805/06
JSE code: WLL
ISIN: ZAE000071841
("Wellco" or "the Company")
ANNOUNCEMENT
SUSPENSION
The directors of the company agree with the JSE suspension of the trading
of the company`s shares. This will allow the current directors to conclude
certain initiatives that will clarify the company`s status and remove the
uncertainty in the market. These initiatives are as follows:
- The reconstitution of the board of directors in compliance with the
company`s articles of association;
- The release of the audited financial results for the year ended 28
February 2007. This is anticipated to be by the 10 July 2007.
- The conclusion of certain negotiations and investigations pertaining
to the sale of a portion of the business and brands, and the
recapitalisation of the company through a share placement and the
implementation of a comprehensive turnaround programme.
TRADING UPDATE
Wellco would like to advise shareholders that further to the announcement
of 26 May 2007, the unaudited consolidated earnings and headline earnings
are now expected to reflect a loss of between R10,2m and R12m for the
financial year ended 28 February 2007. Wellco will update shareholders once
more indicative information is available. The forecast financial
information has not been reviewed by the company`s auditors."
CAUTIONERY
Shareholders are advised that the company has entered into negotiations,
which if successfully concluded may have a material effect on the price of
the company`s securities.
Accordingly, shareholders are advised to exercise caution when dealing in
the company`s securities until a full announcement is made.
Johannesburg
02 July 2007
Designated Advisor
River Group
Date: 02/07/2007 15:49:00 Produced by the JSE SENS Department.
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