I-Fusion - "Agterskot" payment
I-Fusion Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/013542/06)
("I-Fusion")
"Agterskot" payment
In terms of the circular to I-fusion shareholders dated June 15 2000, an
offer was made by the Bidvest Group Limited to I-fusion shareholders to
acquire all or a portion of the issued shares of I-fusion. I-fusion
shareholders had the election to take an "agterskot" offer.
In terms of the "agterskot" offer, no "agterskot" payment would be payable
if the I-fusion operations earned less than R11,2 million after tax for the
period March 1 2000 to February 28 2001.
As initially indicated in the interim results announcement dated February 16
2001, I-fusion hereby confirms that the minimum after tax earnings have not
been achieved and shareholders who accepted the "agterskot" offer are
therefore advised that no "agterskot" payment will be made.
Johannesburg
23 May 2001
Sponsor
Investec Securities Limited
Member of the JSE
Registration No. 1972/008905/06
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