ValueCom Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/006815/06)
("ValueCom" or "the company")
Further cautionary announcement
Further to the announcement published in the press on Thursday, 7 December
2000, notice is hereby given that, subject to shareholder and JSE Securities
Exchange South Africa approval, the directors of the company propose to make a
cash distribution of R22 million (11,6 cents per ValueCom share) ("the
distribution") in terms of section 90 of the Companies Act, 1973 (Act 61 of
1973), as amended, by way of a reduction of the company's share premium account
As announced on Thursday, 7 December 2000, an agreement was reached between
ValueCom and Dimension Data Holdings Limited, in terms of which all
restrictions and restraints previously placed on ValueCom have been removed.
The directors are considering various options including, inter alia, utilising
the residual cash to continue initiatives within the converging
telecommunication and internet arena or returning the residual cash to
shareholders in a voluntary winding-up and subsequent delisting.
A circular containing full details of the distribution and general meeting of
shareholders will be posted to the shareholders in due course.
Johannesburg
2 February 2001
Sponsor
Investec Securities Limited
Member of the JSE
(Registration number 1972/008905/06)
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