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MML
MML
MML - Metmar Limited - Status of the proposed disposal by Metmar of its 21%
interest in PGR 17 Investments (Proprietary) Limited and withdrawal of
cautionary announcement
Metmar Limited
Incorporated in the Republic of South Africa
Registration number: 1998/007269/06
Share code: MML
ISIN code: ZAE000078747
("Metmar" or "the company")
Status of the proposed disposal by Metmar of its 21% interest in PGR 17
Investments (Proprietary) Limited and withdrawal of cautionary announcement
INTRODUCTION
Metmar shareholders are referred to the cautionary announcements published on 28
May 2008, 30 May 2008 and 18 June 2008 and the announcement published on 2 June
2008 that contained details of the irrevocable offer (the "Offer") made by
Kermas Limited ("Kermas") to acquire 100% of the shares of PGR 17 Investments
(Proprietary) Limited ("PGR 17") with effect from 1 September 2008 (the
"Transaction"). Metmar has a 21% interest in PGR 17.
FINANCIAL GUARANTEES
Metmar shareholders are advised that Kermas has successfully lodged the
necessary financial guarantees in respect of the Offer.
However, the acceptance of the Offer is still subject to the fulfilment of the
following conditions precedent:
- obtaining the approval of the Competition Authorities by 30 September 2008;
and
- certain other parties to the Offer passing all of the necessary
resolutions, in order to approve and implement the transactions
contemplated in the Offer as it relates to them by 30 June 2008.
DOCUMENTATION AND NOTICE OF A METMAR SHAREHOLDERS` GENERAL MEETING
The Transaction is a Category 1 transaction for Metmar in terms of section
9.5(b) of the JSE Limited ("JSE") Listings Requirements and a circular
containing the information required in terms of the JSE Listings Requirements
and incorporating a notice of a Metmar shareholders` general meeting to approve
the Transaction will be posted to Metmar shareholders within 28 days of this
announcement.
WITHDRAWAL OF CAUTIONARY
Shareholders are advised that caution is no longer required when dealing in the
shares issued by Metmar.
Bryanston
26 June 2008
Sponsor
QuestCo Sponsors (Pty) Ltd
Date: 26/06/2008 11:28:01 Produced by the JSE SENS Department.
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