Regal Treasury Bank Holdings Limited ("regal") - A
Regal Treasury Bank Holdings Limited
The boards of directors of Regal Treasury Bank Holdings Limited ("Regal
Holdings") and Regal Treasury Private Bank Limited ("Regal Bank) wish to
convey the following information to shareholders as a result of press
reports containing allegations regarding Regal Holdings and Regal Bank.
1. Regal Bank's position and the net income accounted for in respect of
Regal Medical Initiatives (Pty) Limited ("RMI") have been assessed and
audited by Regal Bank's auditors during Regal Bank's annual audit for the
year ending 28 February 2001. The net income, including any contingencies,
derived from RMI has been accounted for in the published audited results
dated 30 April 2001.
2. The aggregate value of Regal Bank's holding in Sempres International
Technology Holdings Limited ("Sempres") has been valued since acquisition at
R1. As a result Regal Bank has not and will not incur any loss because of
Sempres's volatile share price movement.
3. Regal Bank have certain commercial arrangements between them and Mettle
Limited ("Mettle") which were entered into at arm's length and are governed
by binding agreements. It is therefore impossible for Regal Holdings to
influence Mettle in any trading that it may from time to time conduct in the
shares of Regal Holdings.
4. The directors of Regal have not themselves undertaken any recent trades
in the shares of Regal Holdings, which would be disclosed on SENS in terms
of the requirements of the JSE Securities Exchange. Furthermore, no new
shares have been issued, to directors or others, since the end of the last
financial year
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