MML - Metmar - Status Of The Proposed Disposal By Metmar Of Its 21% Interest In
MML
MML
MML - Metmar - Status Of The Proposed Disposal By Metmar Of Its 21% Interest In
PGR 17 Investments (Proprietary) Limited
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
INTRODUCTION
Metmar shareholders are referred to the cautionary announcements published on 28
May 2008, 30 May 2008 and 18 June 2008 and the announcements published on 2 June
2008 and 26 June 2006 that contained details of the irrevocable 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.
APPROVAL OF THE COMPETITION TRIBUNAL
Metmar shareholders are advised that the Competition Tribunal has
unconditionally approved the Transaction with the buyer as Kermas or its nominee
company. The last of the conditions precedent has, therefore, been fulfilled.
AMENDMENTS TO THE TRANSACTION
Although there is no change in the basis of arriving at the purchase price, PGR
17 and Kermas are in the process of making amendments to some of the details
relating to the Transaction.
DOCUMENTATION AND NOTICE OF A METMAR SHAREHOLDERS` GENERAL MEETING
The necessary circular containing the information required in terms of the JSE
Listings Requirements in respect of the Transaction and incorporating a notice
of a Metmar shareholders` general meeting to approve the Transaction will be
finalised and posted to Metmar shareholders in due course.
Bryanston
24 November 2008
Sponsor
QuestCo Sponsors (Pty) Ltd
Date: 24/11/2008 12:15:43 Produced by the JSE SENS Department.
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