MKX
MKX
MKX - Milkworx - Detailed Cautionary Announcement
MILKWORX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/011074/06)
Share code: MKX ISIN: ZAE000058020
("Milkworx" or "the Company")
DETAILED CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the previous cautionary announcements and renewals
thereof, and are advised that the negotiations referred to therein are still in
progress.
A memorandum of understanding has been concluded between Milkworx and an
undisclosed third party ("3rd party"). In terms of the memorandum of
understanding, and subject to certain conditions precedent, including but not
limited to the approval of the ALTx Advisory Committee of the listing of the 3rd
party, Milkworx may make an offer to the 3rd party on the basis that the current
Milkworx shareholders will be minority shareholders in the resultant company.
The 3rd party`s business is best described as one of beneficiation. The parties
are of the opinion that many synergies exist between the two companies, and that
a successful transaction may be to the mutual benefit of both companies and
their shareholders.
Further information in this regard shall be announced as soon as a formal
agreement is in place. In the interim, shareholders are advised to continue to
exercise caution when dealing in the company`s securities until a full
announcement is made.
Johannesburg
28 May 2009
Designated Advisor:
Arcay Moela Sponsors (Pty) Ltd
Date: 28/05/2009 13:07:54 Produced by the JSE SENS Department.
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