Wooltru - Update And Further Cautionary Announceme
Wooltru - 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 cautionary announcement dated 18 July 2002, Wooltru has
received written notice from Corpcapital Limited ("Corpcapital") that it
has withdrawn from the agreement referred to in that announcement.
Under the terms of the agreement Corpcapital was to have acquired
Wooltru`s right title and interest in and claims ("the claims") against
CNA Holdings (Proprietary) Limited ("CNA"), Gordon Kay & Associates
(Proprietary) Limited ("G&K"), Mark Gordon and Tony Kay together with
Wooltru`s security in relation to the claims.
In the interim, an application to place the principal trading companies
within the CNA group under judicial management has been granted by the
High Court. Accordingly Wooltru`s shareholders are advised to continue
to exercise caution when dealing in their Wooltru shares.
Johannesburg
26 July 2002
Financial Adviser and Sponsor Debt Adviser
Cazenove Credit Management Solutions
Attorneys Attorneys
Werksmans Incorporated Mallinicks Attorneys
(Registration number 1990/007215/21)
Date: 26/07/2002 08:22:57 AM Produced by the JSE SENS Department
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