STO - Sethold - Investment in Sethold by MIC and w
STO
STO
STO - Sethold - Investment in Sethold by MIC and withdrawal of cautionary
Set Point Technology Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1996/014334/06)
Share code: STO
ISIN: ZAE000013629
("Sethold")
Investment in Sethold by MIC and withdrawal of cautionary
The Acquisition by Mineworkers Investment Company (Pty) Limited (MIC) of a
Strategic Investment in Sethold
The company is pleased to advise shareholders that MIC has completed a due
diligence investigation of Sethold and has acquired 34m shares in Sethold at
a price of 65 cents per share. This represents a 10% shareholding in Sethold
and increases the group`s BEE shareholding to 25%.
The sellers to MIC were the original Seran vendors in terms of the claw back
agreements concluded, as referred to in Sethold`s interim results published
on 15 May 2007, and from the purchaser of Mineral Mining. Accordingly the
full proceeds of R22,1m will be received by Sethold from these two parties as
a consequence of this transaction and the group`s balance sheet has been
strengthened accordingly. Sethold remains liable for any matters arising
from the agreements with the original Seran vendors and conversely retains
its remaining claims against the vendors arising from the losses incurred by
Seran
Withdrawal of Cautionary
Shareholders are referred to the renewal of the cautionary announcement on 04
July 2007 and are advised that caution is no longer required when dealing in
Sethold`s ordinary shares.
06 July 2007
Sponsor:
Investec Bank Limited
Date: 06/07/2007 16:06:47 Produced by the JSE SENS Department.
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