New Corpcapital - Withdrawal Of Cautionary Announc
New Corpcapital - Withdrawal Of Cautionary Announcement
NEW CORPCAPITAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/006539/06)
JSE Share code: NCA
ISIN: ZAE000067765
(`New Corpcapital`)
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement of 19 July 2005 and to
the announcement by Combined Motor Holdings Limited on 16 August 2005 of the
acquisition agreement it has concluded with Forza (Pty) Limited, subject to
certain conditions (the `transaction`).
New Corpcapital, as a shareholder in Forza, expects in due course that the
transaction will result in distribution to New Corpcapital of its pro-rata share
of the net sale proceeds. The terms of the transaction and the distribution
expected by New Corpcapital are not such that the board of New Corpcapital has
revised its estimate of ultimate realisable net asset value of 36 cents per
share as previously announced or that finalisation of the realisation strategy
will be accelerated.
There is no longer reason for shareholders to exercise caution in their dealings
in New Corpcapital securities.
Melrose Arch
17 August 2005
Sponsor
Java Capital (Pty) Limited
Date: 17/08/2005 05:24:33 PM
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