ILLOVO LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1906/000622/06)
("Illovo")
Further cautionary announcement regarding the acquisition by Illovo of Tate &
Lyle PLC`s 50,87% interest in Zambia Sugar Plc
Further to the cautionary announcements dated 16 February 2001 and 14 March
2001, ING Barings is authorised to announce that, following the approval by the
Zambia Competition Commission of the acquisition by Illovo of Tate & Lyle PLC`s
50,87% interest in Zambia Sugar Plc ( Zambia Sugar ) for US$11,4 million
(approximately R90 million), the transaction has become unconditional.
In terms of the rules of the Securities and Exchange Commission (Zambia) and
the Lusaka Stock Exchange, Illovo will extend a mandatory offer to Zambia
Sugar`s minority shareholders on equivalent terms. The results of the mandatory
offer are expected to be published on 14 May 2001.
Illovo shareholders are accordingly advised to continue to exercise caution
when dealing in their Illovo shares until the results of the mandatory offer
are published.
Mount Edgecombe
23 March 2001
Financial adviser and sponsor
ING BARINGS
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
