PSG INVESTMENT BANK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/017358/06)
("PSGBH")
REAL AFRICA DUROLINK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1992/004888/06)
("RADH")
TERMS OF THE ACQUISITION BY PSGBH OF RADH AND EXTENSION OF CAUTIONARY
ANNOUNCEMENT
Further to the announcement published on 10 April 2001 relating to the
acquisition by PSGBH of RADH and the extended cautionary announcement dated
1 June 2001, shareholders of PSGBH and RADH are advised that following the
completion of the financial statements of RADH as at 30 April 2001,
agreement has been reached on an exchange ratio of 95 PSGBH shares for every
100 RADH shares in respect of the acquisition. In addition, PSGBH will make
a cash offer of 78 cents per RADH share. Accordingly, RADH shareholders may
elect to receive:
- PSGBH shares in the ratio of 95 PSGBH shares for every 100 RADH shares;
or
- a cash consideration of 78 cents per RADH share; or
- a combination of the above.
The Securities Regulation Panel ("SRP") has received confirmation that PSGBH
has adequate resources to satisfy its commitment in terms of the cash offer
referred to above
The effects of the acquisition on RADH and on PSGBH shareholders will be
published in further announcements and circulars, which are in the course of
preparation and will, subject to the approval of the JSE Securities Exchange
South Africa and the SRP, be dispatched to shareholders in due course.
Accordingly, RADH and PSGBH shareholders are advised to continue exercising
caution in dealing in their shares, until such further announcements are
made.
Rosebank
16 July 2001
Investment bank and corporate adviser to RADH
REAL AFRICA DUROLINK INVESTMENT BANK LIMITED
(Registration Number 1987/005258/06)
www.radbank.co.za
Sponsor to RADH
DEUTSCHE SECURITIES
Member of the Deutsche Bank Group Deutsche Securities (SA) (Proprietary)
Limited
(Registration number 1995/011798/07)
Attorneys to RADH
BRINK COHEN LE ROUX & ROODT INC
(Registration number1993/004501/21)
Investment bank and joint sponsor to PSGBH INVESTMENT BANK
PRICEWATERHOUSECOOPERS CORPORATE FINANCE (PTY) LIMITED
(Registration number 1970/003711/07)
Joint sponsor to PSGBH
PRICEWATERHOUSECOOPERS CORPORATE FINANCE (PTY) LIMITED
(Registration number 1970/003711/07)
Attorneys to PSGBH
FLUXMAN RABINOWITZ RAPHAELY WEINER
(Registration number 2000/024755/21)
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