JOINT STATEMENT BY "CNA", GORDON KAY & ASSOCIATES (PTY) LIMITED ("G&K"), AND
WOOLTRU
Wooltru Limited
(Incorporated in the Republic of South Africa)
(Registration number 1936/008278/06)
("WOOLTRU")
Share Code: WLO ISIN Code: ZAE000007993
Share Code: WLN ISIN Code: ZAE000008744
Share Code: WLOP ISIN Code: ZAE000008009
Share Code: WLP1 ISIN Code: ZAE000008017
JOINT STATEMENT BY CONSOLIDATED NEWS AGENCIES HOLDINGS (PTY) LIMITED
("CNA"), GORDON KAY & ASSOCIATES (PTY) LIMITED ("G&K"), AND WOOLTRU
Since the acquisition of CNA from Wooltru, G&K and the management of CNA
have undertaken a number of initiatives to restructure CNA into different
operating companies. This process was embarked upon to bring greater focus
on the strategic entities within the group in order to restore CNA to
profitability.
As there are still amounts outstanding by G&K to Wooltru in respect of the
sale of CNA, Wooltru has agreed to co-operate in this process in the
interests of the CNA business, and in the belief that such co-operation will
be to the benefit of Wooltru shareholders. Wooltru shareholders can expect a
further update on progress after two weeks.
These developments will not affect Wooltru`s proposed unbundling, nor the
envisaged voluntary winding up of Wooltru.
Cape Town
3 June 2002
Financial Adviser and Sponsor
Cazenove
Date: 03/06/2002 11:33:45 AM Produced by the SENS Department
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
