| Wed 27 Feb 2008, 8:59 | | JCI - JCI Limited - Correction Of Announcement Dated 13 December 2007 |
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JCD KRHT
JCD
JCI - JCI Limited - Correction Of Announcement Dated 13 December 2007
JCI LIMITED
("JCI" or "the Company")
(Incorporated in the Republic of South Africa)
(Registration number 1894/000854/06)
Share code: JCD (Suspended)
ISIN: ZAE0000039681
CORRECTION OF ANNOUNCEMENT DATED 13 DECEMBER 2007
Shareholders are referred to the Net Asset Value Information announcement
released by JCI on SENS on 13 December 2007 and in the press on 14 December
2007. Note 3 to the Group NAV statement was correctly released in the press, but
the latter section of the note was excluded from the SENS announcement. The
complete note is presented below:
"3 Listed investments
Number of Value per share Value
shares R R`000
Gold Fields 13 434 438 128.0900 1 720 817
R&E 6 196 868 28.7393 178 094
Other listed 81 004
investments
Matodzi 211 590 495 0.2404 50 866
Sekunjalo 23 885 556 0.7850 18 750
Simmers 1 833 592 6.2108 11 388
1 979 915
The value of the listed investments, except for the
investment in R&E, is based on the VWAP for March 2007
comprising 21 trading days.
The value of the R&E investment is based on the Net Asset
Value per share of R&E at 31 March 2007 which is disclosed
in the R&E Group Net Asset Value Statement, published on the
same date as this statement.
The R&E value is adjusted for the merger ratio as announced
on 23 April 2007.
R&E
R
Net Asset Value per share - R&E Group Net Asset Value
Statement
8.1960
Net Asset Value per share - adjusted for proposed merger
ratio
28.7393
The JCI Group has not included 2 943 087 R&E shares, which have been pledged as
security for a liability owing by the JCI Group. These shares have not been
included in the Group Net Asset Value Statement of R&E as these are shares
included for possible cancellation."
FORWARD-LOOKING STATEMENT AND DISCLAIMER FOR JCI
Certain statements in this announcement, as well as oral statements that may be
made by the officers, directors or employees of JCI acting on its behalf
relating to such information, contain "forward-looking statements". All
statements, other than statements of historical facts, are "forward-looking
statements". These include, without limitation, the ability of JCI and R&E to
successfully consummate a merger that is approved by the shareholders and is
acceptable to the necessary governmental authorities, the fraud and
misappropriation that are alleged to have occurred and the time periods affected
thereby; the ability of JCI to recover any misappropriated assets and
investments; the outcome of any proceedings on behalf of, or against JCI; the
ability of JCI to complete its forensic investigation and prepare audited
financial statements; the time period for completing the forensic investigation
and audited financial statements; the amount of any claims JCI is or is not able
to recover against others, and the success of its mediation with R&E; the
likelihood and economic parameters of any merger arrangement between JCI and
R&E; and the ultimate impact on the previously released financial statements and
results, assets and investments, including with respect to business, operations,
economic performance, financial condition, outlook and trading markets of JCI.
Although JCI believes that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such expectations will
prove to be correct, particularly in light of the extent of the alleged frauds
and misappropriations uncovered to date. Actual results could differ materially
from those implied by or set out in the forward-looking statements.
Among other factors, the existence of any possible unknown liabilities, the
willingness of any governmental authority to sanction any merger; the extent,
magnitude and scope of any fraud and misappropriation that may be ultimately
determined to have occurred and the time periods and facts related thereto
following the completion of the forensic investigation and any other
investigations that may be commenced and the ultimate outcome of such forensic
investigation; the ability of JCI to successfully assert any claims it may have
against other parties for fraud or misappropriation of JCI assets or otherwise
and the solvency of any such parties; the determinations of the mediators and
acceptance of any such determinations by the shareholders of JCI; the ability of
JCI to defend successfully any counterclaims or proceedings against it; the
ability of JCI and the forensic investigators to obtain the necessary
information with respect to the transactions, assets, investments, subsidiaries
and associated entities of JCI to complete the forensic investigation and
prepare audited financial statements; the willingness and ability of the
forensic investigators and auditors to issue any final opinions with respect
thereto; the ability of JCI to implement improved systems and to correct its
late reporting; the JSE`s willingness to lift its suspension of the trading of
JCI`s securities on that exchange; changes in economic and market conditions;
fluctuations in commodity prices and exchange rates; the success of any business
and operating initiatives, including any mining rights; and changes in the
regulatory environment and other government actions; business and operational
risk management; other matters not yet known to JCI or not currently considered
material by JCI.
All forward-looking statements attributable to JCI, or persons acting on its
behalf, are qualified in their entirety by these cautionary statements. JCI
expressly disclaims any obligation to release publicly any update or revisions
to any forward-looking statements to reflect any changes in expectations, or any
change in events or circumstances on which those statements are based, unless
otherwise required by law.
27 February 2008
Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 27/02/2008 08:59:12 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
