ELE - ElementOne Limited - Announcement regarding the suspension of the
ELE
ELE
ELE - ElementOne Limited - Announcement regarding the suspension of the
listing of ElementOne
ElementOne Limited
(Incorporated in the Republic of South Africa)
(Registration number 1889/000352/06)
Share code: ELE & ISIN: ZAE000115887
("ElementOne" or "the company")
Announcement regarding the suspension of the listing of ElementOne
Shareholders are referred to the circular dated 25 February 2008 relating to the
disposal by ElementOne of all of its operating media and entertainment assets
and the subsequent distribution in specie to shareholders ("the unbundling"),
wherein it was mentioned that the JSE Limited ("the JSE") had granted the
company a period of 12 months ("the deadline") from the date of the unbundling
within which to remedy the company`s non-compliance with paragraph 4.28(d) of
the JSE Listings Requirements ("the non-compliance").
Further, shareholders are referred to the cautionary announcement dated 30 March
2009 ("the cautionary announcement") in which shareholders were advised that the
JSE had granted ElementOne an extension to the deadline for a further six months
until 30 September 2009 ("the extension"). The extension was based on the fact
that the company was in discussion with two parties which could have resulted in
the non-compliance being addressed. Subsequently however, the company released a
withdrawal of cautionary announcement dated 19 May 2009, wherein shareholders
were informed that the discussions referred to in the cautionary announcement
had not resulted in any conclusive agreement being reached.
Subsequent to ElementOne`s annual general meeting held today, the company has
been advised by the JSE that it intends to suspend the listing of ElementOne
with effect from 1 October 2009, due to the fact that extension granted by the
JSE is due to expire on 30 September 2009.
Shareholders will be provided with full details regarding the termination of
ElementOne`s listing in due course.
Johannesburg
15 September 2009
Sponsor
Nedbank Capital
Date: 15/09/2009 17:05:01 Produced by the JSE SENS Department.
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