BAW - Barloworld Limited - Update on announced str
BAW BAWP
BAW
BAW - Barloworld Limited - Update on announced strategic actions
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(ISIN: ZAE000026639)
(Share code: BAWP)
(ISIN: ZAE000026647)
("Barloworld")
UPDATE ON ANNOUNCED STRATEGIC ACTIONS
Shareholders are referred to the announcements dated 18 December 2006, 25
January 2007, 27 March 2007 and the reviewed interim results for the six
months ended 31 March 2007 released on 14 May 2007, where the board of
Barloworld announced its intention to undertake certain actions to unlock
shareholder value.
After the announcement of the 25 January 2007 referred to above, Barloworld
received several unsolicited expressions of interest from parties who
indicated that they were interested in acquiring the Coatings division
("Coatings").
Barloworld reviewed the unsolicited expressions of interest and decided to
embark on a dual process of further investigating both the disposal and/or
unbundling and listing of Coatings on the JSE limited ("JSE"). Certain
parties who submitted expressions of interest were invited to submit offers
for Coatings and, as a result, several credible non-binding offers for
Coatings were received by Barloworld.
Barloworld has considered the qualitative and quantitative aspects of the
non-binding offers, and has decided that an unbundling and listing of
Coatings on the JSE would better serve the interests of its shareholders.
The Company aims to complete the unbundling and listing of Coatings on the
JSE before the end of the 2007 calendar year.
31 July 2007
Investment Bank
Standard Bank
Sponsor: J.P Morgan Equities Limited
Date: 31/07/2007 14:47:01 Produced by the JSE SENS Department.
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