Wooltru Limited - Update And Further Cautionary An
Wooltru Limited - Update and further cautionary announcement
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
Update and further cautionary announcement
Further to the update and cautionary announcement dated 16 July 2002 and the
announcement dated 20 June 2002, shareholders are advised that, subject to
conditions precedent, an agreement (the "agreement") has been concluded between
Wooltru, Corpcapital Limited ("Corpcapital"), Gordon Kay & Associates
(Proprietary) Limited ("G&K"), Mark Gordon and Tony Kay pursuant to which
Corpcapital or its nominee will acquire:
the entire issued share capital in, and shareholder`s claims against CNA
Holdings (Proprietary) Limited ("CNA")from G&K; and
Wooltru`s right title and interest in and claims (the "claims") against CNA,
G&K, Mark Gordon and Tony Kay together with Wooltru`s right title and interest
in and to security in relation to the claims.
The agreement is subject to conditions precedent including the satisfactory
completion of a due diligence exercise of CNA by Corpcapital.
Pending fulfilment of the conditions precedent, control and management of CNA
remains vested in the CNA board.
Accordingly, shareholders are advised to continue exercising caution when
dealing in their Wooltru shares until further notice.
Johannesburg
18 July 2002
Financial Adviser and Sponsor
Cazenove
Attorneys
Werksmans Incorporated
(Registration number 1990/007215/21)
Corporate Adviser to Corpcapital
Corpcapital Corporate Finance
Legal Adviser to Corpcapital
Corpcapital Transaction Support
Date: 19/07/2002 07:00:02 AM Produced by the JSE SENS Department
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