JNC - Johnnic Holdings Limited - Odd lot offer and cautionary announcement
JNC
JNC
JNC - Johnnic Holdings Limited - Odd lot offer and cautionary announcement
JOHNNIC HOLDINGS LIMITED
Johnnic Holdings Limited
(Registration number 1889/000429/06)
Share code: JNC ISIN: ZAE000024352
("Johnnic" or "the company")
ODD LOT OFFER AND CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcements released by Johnnic on the
Securities Exchange News Service ("SENS") of the JSE Limited on 14 May 2008 and
12 June 2008 as well as to the circular posted to Johnnic shareholders on 14 May
2008 regarding the Johnnic odd lot offer.
The Johnnic board of directors has, at this stage, decided not to implement the
Johnnic odd lot offer. This decision is as a result of the announcement released
by Johnnic`s holding company, Hosken Consolidated Investments Limited ("HCI") on
SENS today, 27 June 2008, in which it was indicated that HCI has obtained
irrevocable support from Coronation Asset Management (Proprietary) Limited
("Coronation") to sell its 28.6% interest in Johnnic to HCI at a consideration
of R16.75 per Johnnic ordinary share and may consider making a similar offer to
all minority shareholders of Johnnic with a view to delist Johnnic.
Accordingly shareholders of Johnnic are advised to exercise caution when dealing
in their shares until a further announcement is made in this regard.
Sandton
27 June 2008
Investment Bank and Sponsor
Investec Bank Limited
Date: 27/06/2008 09:37:01 Produced by the JSE SENS Department.
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