WHETSTONE INDUSTRIAL HOLDINGS LTD
(Incorporated in the Republic of South Africa)
(Registration number 1997/000740/06)
("Whetstone")
Cautionary announcement
Shareholders are advised that the Sale of Business Agreement ("the agreement")
dated 17 May 2000, in terms of which Whetstone proposed to dispose of the
entire business undertaking of its 78% held subsidiary company Expressit
(Proprietary) Limited to a wholly- owned subsidiary of Berco Investments
(Proprietary) Limited ("Berco"), has technically lapsed as a result of the
non-fulfilment of certain of the suspensive conditions by the dates indicated
in the agreement.
As a result Whetstone and Berco are in discussions to resolve the situation and
shareholders will be advised of the outcome thereof in due course.
Shareholders are accordingly advised to exercise caution in dealing in their
Whetstone ordinary shares until a further announcement is made.
Cape Town
13 March 2001
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