ART - Argent Industrial Limited - Withdrawal of ca
ART
ART
ART - Argent Industrial Limited - Withdrawal of cautionary announcement
ARGENT INDUSTRIAL LIMITED
(Registration number 1993/002054/06)
Share code: ART & ISIN: ZAE000019188
("Argent" or "the company")
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the negotiations referred to in the cautionary
dated 30 April 2007 and subsequent renewals thereof, have been successfully
concluded.
Argent has purchased 100% of the shares in Gammid Trading (Proprietary)
Limited. The transaction constitutes less than 5% of Argent`s issued share
capital, and as such no formal announcement is required by the JSE Limited.
However, in order to keep shareholders fully informed of developments within
the company, the following is a summary of the nature of business of Gammid.
Gammid is a national trader in aluminium and stainless steel products. These
products include stainless steel and aluminium sheet, tube and round bar, as
well as aluminium extrusions. The business has branches in Johannesburg, Cape
Town, George, Port Elizabeth and Durban. Gammid sources its stainless steel
and aluminium products from both local and overseas markets and is the largest
local distributor of the new 200 Series stainless steel material. Gammid will
benefit from Argent`s infrastructure and distribution outlets. Growth will
come from expanding the aluminium and stainless steel business, while Argent
will benefit from inter-company trading with Gammid in these products.
Shareholders are advised therefore that caution is no longer required when
dealing in Argent shares, and the cautionary is hereby withdrawn.
Maraisburg
30 July 2007
Sponsor
ARCAY MOELA SPONSORS (PTY) LIMITED
Date: 30/07/2007 15:29:01 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
