SEARDEL INVESTMENT CORPORATION
(Registration No. 68/11249/06)
("Seardel")
ANNOUNCEMENT
Corpcapital Corporate Finance is authorised to announce that:-
1. A consortium consisting of the SACTWU Investment Group, Mr Cyril
Ramaphosa (representing Millenium Consolidated Investments) and Corpcapital
Limited (the consortium) has been granted an option by Seardel to acquire
20% of the current total issued share capital of Seardel in "N" shares (the
option).
2. The grant of the option is subject to shareholder approval.
3. The commencement date of the option is the date on which it is approved
of by shareholders and will lapse if not exercised before midnight after the
expiry of 15 months from the commencement date.
4. The subscription price payable for each of the option shares is the
lesser of R2,00 and the ruling price of Seardel "N" shares on the
commencement date of the option.
5. Seardel has granted the option to the consortium:
5.1 in recognition of the long-term value that the consortium can add to the
business and stakeholders of Seardel;
5.2 as a funding mechanism to facilitate significant empowerment ownership
of Seardel;
6. Cyril Ramaphosa and Neil Lazarus have accepted invitations to be
appointed to the board of directors of Seardel.
7. A circular to Seardel shareholders will be sent within 28 days of this
announcement.
Sponsor to Seardel Corporate Advisor to the
Corpcapital Corporate Finance Consortium
Corpcapital Corporate Finance
Legal Advisor to Seardel Corporate Advisor to Seardel
Sonnenberg, Hoffman and Ansdale Corporate Finance
Galombick Inc.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
