| Thu 13 Mar 2008, 15:34 | | EMG - Emergent Properties Limited - Withdrawal of |
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EMG
EMG
EMG - Emergent Properties Limited - Withdrawal of previous cautionary
announcement, potential change in control, waiver of mandatory offer and new
cautionary announcement
Emergent Properties Limited
(Formerly Sizafika Property Investments Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1969/002908/06)
Share code: EMG ISIN: ZAE000097754
("Emergent or "the company")
WITHDRAWAL OF PREVIOUS CAUTIONARY ANNOUNCEMENT, POTENTIAL CHANGE IN CONTROL,
WAIVER OF MANDATORY OFFER AND NEW CAUTIONARY ANNOUNCEMENT
Withdrawal of cautionary announcement
Further to the announcement on 31 October 2007, the Board of Directors wishes to
inform unit holders that the company is no longer in negotiations relating to
the acquisition of Trimanex Holdings Limited ("Trimanex") to acquire the entire
issued share capital of Trimanex in exchange for shares in Emergent due to,
inter alia, extensive time delays.
Potential change in control, waiver of a mandatory offer and cautionary
announcement
Linked unit holders are advised that the controlling shareholders of Emergent
have signed an agreement relating to a change in control and potential
acquisitions by the company, which transactions are subject to, inter alia,
Emergent continuing to be listed. The implementation of the agreement may
result in a change in control and a mandatory offer may be required in terms of
the Securities Regulation Panel ("SRP") Code ("the Code"). An application will
be made to the SRP to waive the mandatory offer in terms of Rule 8.7 of the
Code. The proposed acquisitions will constitute a reverse listing and
accordingly shareholders are warned that there is uncertainty as to whether the
JSE Limited ("JSE") will allow the listing to continue following the
acquisitions. Accordingly, unit holders must exercise caution in the trading of
their linked units until a more detailed announcement is made.
Suspension of listing
Discussions are taking place with the JSE regarding the suspension and potential
termination of the listing on the JSE and linked unit holders will be kept
informed of those discussions.
Sandton
13 March 2008
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
Date: 13/03/2008 15:34:46 Produced by the JSE SENS Department.
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