Messina Limited
(Incorporated in the Republic of South Africa)
(Registration number 1950/035912/06)
("Messina")
Withdrawal of cautionary announcement
Shareholders are referred to the cautionary announcements dated 12 April
2001 and 24 May 2001, and are advised that at this stage Messina will not be
proceeding with the rights offer to raise R50 million.
The equity funding required as a condition precedent for draw down on the
R345 million debt facility, as indicated in the announcement dated 5 June
2001, is being met by means of a shareholders' loan from SouthernEra subject
to the following terms and conditions:
- an available facility of up to US$6 million;
- the loan will be unsecured and bear interest at the base lending rate as
determined by the commercial banks in the United States of America, which is
approximately 7% per annum; and
- the loan is repayable by mutual agreement between Messina and SouthernEra.
Shareholders are accordingly advised that caution is no longer required when
dealing in their shares.
Rosebank
16 July 2001
RMB RESOURCES
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