JCD - JCI Limited - Announcement relating to the disposal of
JCD KRHT
JCD
JCD - JCI Limited - Announcement relating to the disposal of
Boschendal and renewal of cautionary announcement
JCI LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1894/00854/06
Share code: JCD
ISIN: ZAE0000039681 (Suspended)
("JCI" or "the Company")
Announcement relating to the disposal of all shares and claims in
Boschendal (Pty) Limited ("Boschendal") by JCI Investment Finance
(Pty) Limited ("JCIIF"), a 100% owned subsidiary of JCI and a 62.67%
shareholder in Boschendal, to Cinmark Twenty Seven (Pty) Limited
("Cinmark" or "the Purchaser") and renewal of cautionary announcement.
Shareholders are referred to the announcement dated 25 July 2011 which
highlighted the condition precedent that Cinmark Twenty Seven (Pty)
Ltd ("Cinmark") had until close of business on 27 July 2011 to deliver
a bank guarantee by First National Bank for an amount of R700 million.
JCI Investment Finance (Pty) Ltd and IFA Boschendal Investments (Pty)
Ltd ("the Sellers") exercised their right to extend the date to the
close of business on Friday 29 July 2011.
However, by such extended date the bank guarantee had still not been
received from Cinmark and, accordingly the Agreement has lapsed and is
now regarded as null and void. The Sellers are, however, still in
discussions with Cinmark and accordingly shareholders are advised to
continue exercising caution when dealing in the Company`s securities
until discussions are final.
CAUTIONARY ANNOUNCEMENT
In addition, shareholders are referred to the previous cautionary
announcement dated 6 July 2011 relating to the legal application by
Hemispherx Biopharma Incorporated, and shareholders are also advised
to continue to exercise caution when dealing in the Company`s
securities, until a further announcement is made in respect thereto.
Johannesburg
3 August 2011
Sponsor: Investec Bank Limited
Date: 03/08/2011 16:23:01 Produced by the JSE SENS Department.
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