CORPCAPITAL
CORPGRO
Registration number 1983/011384/06
CORPCAPITALBANK
Controling Company
Registration number 1998/008346/06
Cautionary Announcement: Ministerial Consent
Corpgro, Corpcapital and Corpcapital Bank (previously Fulcrum Science and
Technology Bank Controlling Company Limited) are pleased to announce that
the Minister of Finance has granted permission in terms of the Banks Act,
1990 for Corpcapital to acquire all the shares in Corpcapital Bank which it
does not already hold.
In September 1998 Corpcapital acquired 49% of the shares in Corpcapital
Bank. At the time, as required in terms of the Rules of the Securities
Regulation Panel ("SRP"), Corpcapital announced its intention to offer to
acquire the remaining shares in Corpcapital Bank, subject to the condition
that Corpcapital received the requisite Ministerial consent.
On 28 March 2001 it was announced that it was intended to propose to
shareholders the merger of Corpcapital and Corpgro, with the further
intention of increasing Corpcapital's interest in Corpcapital Bank to 100%
after receipt of the requisite Ministerial consent. The creation of a
simplified and unified corporate structure would mirror the integration of
the operations of the group.
Now that the requisite Ministerial consent has been received, proposals
regarding the implementation of the group's intentions will be announced
shortly, after consultation with the SRP. In the meantime, shareholders in
Corpgro, Corpcapital and Corpcapital Bank are advised to exercise caution in
dealing in their shares.
16 May 2001
Corporate advisor
Corpcapital Corporate Finance
Sponsor
BoE Securities (Pty) Ltd
Member of the JSE Securities Exchange South Africa
Co. Reg. No. 1995/012240/07
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