TWP - TWP Holdings - Further Announcement Regarding The Disposal By TWP Holdings
TWP
TWP
TWP - TWP Holdings - Further Announcement Regarding The Disposal By TWP Holdings
Of Its Eurasian Subsidiary
TWP Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/025640/06)
(ISIN Number: ZAE000110763 & Share Code: TWP)
("TWP Holdings" or "the Company")
Further announcement regarding the disposal by TWP Holdings of its Eurasian
subsidiary
Shareholders are referred to the announcement by TWP Holdings dated Friday, 8
August 2008 in which it was announced that TWP Holdings and its wholly-owned
subsidiary TWP Finance (Proprietary) Limited have entered into two separate
agreements to dispose of TWP Finance`s 51% interest and loan account in SA
Turkey Business & Investment Development Co (Proprietary) Limited ("SAT"), and
effectively TWP Holdings` 100% interest and loan account in TWP Eurasia
Investments Muhendislik Madencilik Ve Danismanlik Ticaret Limited Sirketi, to
SAT and The HRM Trust respectively ("the disposal").
As set out in the abovementioned announcement, the disposal was classified as a
"small related party transaction" in terms of the JSE Limited`s ("JSE") Listings
Requirements and TWP Holdings therefore appointed an independent expert, Moore
Stephens Corporate Finance (Proprietary) Limited ("Moore Stephens") to review
the terms and conditions of the disposal.
Moore Stephens have reviewed the terms and conditions of the disposal and are of
the opinion that these terms and conditions are fair to TWP Holdings`
shareholders. Moore Stephens has expressed this opinion in writing. Such opinion
has been provided to the JSE Issuer Services Division in accordance with
paragraph 10.7(b) of the JSE Listings Requirements and is available for
inspection at the Company`s registered office for a period of 28 days after the
date of this announcement.
Johannesburg
7 October 2008
Sponsor
Nedbank Capital
Date: 07/10/2008 10:00:02 Produced by the JSE SENS Department.
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