CAE/ DYM - CET - Dynamic - withdrawal of joint cau
CAE DYM
CAE DYM
CAE/ DYM - CET - Dynamic - withdrawal of joint cautionary announcement
Cape Empowerment Trust Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/014606/06)
Share Code: CAE & ISIN: ZAE000016952
("CET")
Dynamic Cables RSA Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/001807/06)
ISIN: ZAE000028270
Share Code: DYM
("Dynamic")
Withdrawal of joint cautionary announcement
CET and Dynamic shareholders are referred to the joint announcement dated 2
November 2006 relating to the proposed disposal by CET to Dynamic of its
interests in Grand Parade Investments Limited, and the proposed disposal by
Dynamic of its operating companies to CET ("the CET/Dynamic transactions"), as
well as to subsequent joint cautionary announcements regarding ongoing
discussions between CET and Dynamic and the status of the CET/Dynamic
transactions.
The objective of the CET/Dynamic transactions was to position Dynamic as an
independent, focused gaming and leisure investment entity. It remains the
objective of CET and Dynamic to create a listed, independent, focused gaming and
leisure business.
CET and Dynamic have concluded that, in order to realize such objective, it will
be necessary to accumulate a larger portfolio of gaming and leisure assets, and
both Dynamic and CET have separately resolved to seek to acquire suitable assets
with the intention of combining these into a single listed entity once they are
satisfied that this would be viable having regard to the Listings Requirements
of the JSE.
Given these circumstances, CET and Dynamic have agreed not to proceed with the
CET/Dynamic transactions. It is intended that, if and when sufficient progress
has been be made in executing the strategy of acquire suitable additional gaming
and leisure assets, CET and Dynamic mayalso resume discussions regarding a
potential restructuring and ultimate implementation of the CET/Dynamic
transactions in revised form.
Having regard to the above shareholders of CET and Dynamic need no longer
exercise caution when dealing in their CET and Dynamic shares.
Cape Town
20 July 2007
Corporate advisor and sponsor
Sasfin Capital
(A Division of Sasfin Bank Limited)
Legal Advisor
Hofmeyr Herbstein Gihwala Incorporated
Date: 20/07/2007 17:05:01 Produced by the JSE SENS Department.
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