PIK/PWK - Pick n Pay Holdings /Pick n Pay Stores -
PWK PIK
PWK PIK
PIK/PWK - Pick n Pay Holdings /Pick n Pay Stores - Update on Pick N Pay Sale of
Franklins to Metcash
Pick n Pay Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/009610/06)
Share code: PWK ISIN code: ZAE000005724
Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share Code: PIK ISIN code: ZAE000005443
UPDATE ON PICK N PAY SALE OF FRANKLINS TO METCASH
Pick n Pay Stores Limited ("Pick n Pay") and Metcash Trading Limited have agreed
to extend the cut-off date in their agreement in relation to the sale to Metcash
of Franklins to 30 June 2011.
Metcash Trading Limited has notified the ACCC that, in not fewer than 5 business
days from today, it intends to take further steps to proceed with the Proposed
Transaction.
The ACCC commenced a review of the proposed sale following the announcement on 1
July 2010 by Franklins` parent company, Pick n Pay of South Africa, that it had
decided to sell Franklins to Metcash Trading Limited for $215M. On 17 November
2010 the ACCC announced that it would oppose the proposed sale.
For more information please contact:
Gareth Ackerman on 021 658 1000; or
Tamra Veley on 083 251 3658
By order of the board
Cape Town
23 November 2010
Sponsor:
Investec Bank Limited
Date: 23/11/2010 07:55:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
