JOHNCOM - REFERENCE TO THE CAUTIONARY ANNOUNCEMENT PUBLISHED BY JOHNNIC HOLDINGS
LIMITED
Johnnic Communications Limited
Registered in the Republic of South Africa
(Registration number 1889/000352/06)
Share code: JCM ISIN: ZAE000024584
(`Johncom`)
REFERENCE TO THE CAUTIONARY ANNOUNCEMENT PUBLISHED BY JOHNNIC HOLDINGS LIMITED
The shareholders of Johncom are referred to the cautionary announcement
published by Johnnic Holdings Limited (`Johnnic`) yesterday.
The above mentioned cautionary announcement advises shareholders of Johnnic
that, because of a possible conflict of interest which certain directors of
Johnnic may have, the board of directors of Johnnic (`the board`) has appointed
an independent committee of the board consisting of Messrs C B Brayshaw, P E
Burton and S W Moutloatse (independent non-executive directors) and Messrs D E
Jowell and M W King (independent external members) to consider certain proposals
received by Johnnic to eliminate the pyramid structure that exists between
Johnnic and Johncom and to strengthen Johnnic`s black economic empowerment
profile.
Accordingly, shareholders are advised to exercise caution when dealing in
Johncom`s securities until a further announcement is published.
Johannesburg
23 September 2004
Sponsor
Nedbank Capital
Date: 23/09/2004 09:17:22 AM
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