TRE
TRE
TRE - Trencor Limited - Cautionary announcement
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1955/002869/06)
Share code: TRE
ISIN: ZAE000007506
("Trencor")
CAUTIONARY ANNOUNCEMENT
Trencor shareholders are referred to the announcement today by Mobile Industries
Limited ("Mobile") regarding a proposed unbundling ("Unbundling") by Mobile of
its 46,25% shareholding in Trencor.
Trencor shareholders are advised that discussions are currently in progress in
terms of which, subject to the Unbundling becoming unconditional, Trencor will
acquire approximately 50% of the Trencor shares that will be held post the
Unbundling by trusts related to Neil Jowell and Cecil Jowell (directors of
Trencor and Mobile), at a price of R38,61 per Trencor share, being the
intrinsic value of Trencor`s shares on the date Trencor`s advisers commenced
discussions with shareholders ("Specific Buy-Back").
The proposed Specific Buy-Back and Unbundling are subject to various conditions
precedent and may have a material effect on the price at which Trencor shares
trade on the JSE Limited. Accordingly, Trencor shareholders are advised to
exercise caution when dealing in their shares until a further announcement is
made.
By order of the board
Trencor Limited
Cape Town
18 October 2010
Investment bank and transaction sponsor
Investec Bank Limited
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
www.trencor.net
www.mobile-industries.net
Date: 18/10/2010 15:00:02 Produced by the JSE SENS Department.
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