| Thu 11 Aug 2011, 9:39 | | AVU - Avusa Limited - Renewal of cautionary announcement |
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AVU
AVU
AVU - Avusa Limited - Renewal of cautionary announcement
Avusa Limited
(Incorporated in the Republic of South Africa)
(Registration number 2008/002461/06)
Share code: AVU SIN: ZAE000115895
("Avusa" or "the Company")
UPDATE ON THE RECEIPT OF AN UNSOLICITED EXPRESSION OF INTEREST TO
ACQUIRE THE ENTIRE ISSUED SHARE CAPITAL OF AVUSA
RENEWAL OF CAUTIONARY ANNOUNCEMENT
1 Background and update on the due diligence
Shareholders are referred to the previous announcements dated 28 March
2011, 16 May 2011, 31 May 2011, 27 June 2011 and 8 July 2011, wherein
they were advised that the Board of Directors of Avusa is in receipt of
an unsolicited expression of interest ("the EoI") from a consortium
("the Consortium") led by Capitau Holdings Limited ("Capitau"), and
comprising only Capitau and RMB Ventures, a division of FirstRand Bank
Limited, to acquire the entire issued share capital of Avusa.
As detailed in the announcement dated 8 July 2011, the due diligence
commenced on 12 July 2011 and will end on 24 August 2011. The
Independent Sub-Committee of Avusa has requested that a firm intention
to make an offer by the Consortium, if forthcoming, be delivered within
two weeks of the completion of the due diligence being on or before 7
September 2011.
2 Independent Sub-Committee`s responsibility statement
In terms of the Takeover Regulations, the Independent Sub-Committee
accepts responsibility for the information contained in this
announcement and that to the best of its knowledge and belief (having
taken all reasonable care to ensure that such is the case) the
information contained in this announcement is in accordance with the
facts and, where appropriate, that it does not omit anything likely to
affect the import of such information.
3 Renewal of cautionary announcement
Further to the cautionary announcements dated 28 March 2011, 16 May 2011
and 27 June 2011, shareholders are advised that should the EoI result in
a firm intention to make an offer, the occurrence of such an event
and/or the implementation of the transaction pursuant thereto may have a
material effect on the price of the Company`s shares. Accordingly,
shareholders are advised to continue exercising caution when dealing in
the Company`s shares until a further announcement is made.
Johannesburg
10 August 2011
Investment bank and sponsor
Nedbank Capital
Legal advisors
Werksmans Inc
Date: 11/08/2011 09:39:00 Produced by the JSE SENS Department.
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