ADVTECH LIMITED - WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
ADVTECH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
("ADvTECH")
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement published on 3 April 2001,
shareholders are hereby advised of progress made to date with respect to
certain of the matters referred to therein:
*in terms of the strategic initiatives mentioned previously, Brian Buckham,
the executive chairman, has been appointed as acting chief executive
officer. In this role he will be assisted by Hugh Brown as interim deputy
chief executive officer of ADvTECH. Buckham has been with the group since
inception and stepped down as CEO in 1995, but has been actively involved in
strategic management and executive chairman since then. Brown has a wealth
of management experience with several blue chip corporations in South Africa
and will primarily be responsible for implementing initiatives to enhance
operational structures and efficiencies within ADvTECH;
*the board of ADvTECH is actively pursuing the appointment of a permanent
chief executive to take responsibility for the long term management
structure and growth of the company; and
*discussions with parties regarding the potential sale of ADvTECH and/or the
businesses have been terminated by the board and accordingly shareholders
are advised that caution is no longer required in dealing in their ADvTECH
shares.
Randburg
21 May 2001
Investment Bank Legal Advisers Sponsoring Broker
NIB H R Levin Merrill Lynch
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