Unbundling By Logopt Of Its Shareholding In Paraco
("Paracon")
(formerly LogicalOptions Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1995/012378/06)
("LogOpt")
Unbundling by LogOpt of its shareholding in Paracon Holdings Limited
("Paracon")
The board of directors of LogOpt has resolved to proceed with the unbundling
of LogOpt in terms of section 60 of the Income Tax Act (Act 113 of 1993), as
amended, by way of a distribution in specie of approximately 176 686 000
shares in Paracon.
A further announcement setting out the terms of the unbundling will be
published and a circular posted to LogOpt shareholders within 28 days
subject to the approval of the JSE Securities Exchange South Africa.
Johannesburg
8 June 2001
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