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DEC
DEC
Decillion - Disposal of the funds management business and further cautionary
DECILLION LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1998/011692/06)
JSE code: DEC & ISIN: ZAE000017612
("Decillion" or "the company")
Disposal by Decillion of the funds management business and further cautionary
announcement
1. INTRODUCTION
1.1 Shareholders are referred to the business update on 29 September 2005,
where Decillion announced that it has embarked upon a process to
convert its assets into cash, with the objective of delisting the
company in the near future. Shareholders are further referred to the
announcements dated 14 December 2005 and 20 January 2006, regarding
the realisation of the company"s interest in the Agricultural and
Commodities Business ("Agri disposal") as well as previous business
updates and cautionary announcements.
1.2 Decillion has signed agreements for the disposal of Decillion Funds
Management ("the DFM disposal") as well as its Swiss international
broking operation ("the International disposal"), which transactions
are in the process of being closed and implemented. Save for its
equity broking operation in London, which is small in the context of
the other transactions, these disposals conclude the conversion of
Decillion"s assets into cash.
2. DETAILED ANNOUNCEMENT AND FURTHER CAUTIONARY ANNOUNCEMENT
A detailed announcement will be made on all the disposals as well as the
process forward with regard to Decillion. Shareholders are advised to
continue to exercise caution when dealing in their Decillion shares on the
JSE Limited ("JSE") until such announcement is made.
3. CIRCULAR TO SHAREHOLDERS
A combined circular to Decillion shareholders containing, details of the
Agri disposal, the DFM disposal and the International disposal and notice
of a general meeting to be convened for purposes of obtaining the required
shareholder approval for the Agri disposal, the DFM disposal and the
International disposal (collectively "the disposals"), will be mailed to
shareholders in due course.
Shareholders are advised that irrevocable undertakings to approve the
disposals, have been received from shareholders holding more than 50% of
the voting rights exercisable at the general meeting to be convened, as
above.
Johannesburg
7 June 2006
Attorneys
JOWELL GLYN & MARAIS
Sponsor
BARNARD JACOBS MELLET CORPORATE FINANCE (PTY) LTD
Date: 07/06/2006 04:00:02 PM Produced by the JSE SENS Department
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