ARCAY GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1970/009054/06)
" or "the company")
EXERCISE OF SHARE PUT OPTION
With reference to Arcay Group Limited's ("Arcay") announcement to
shareholders, dated 2 March 2001, shareholders are advised that the put
option referred to therein was not exercised on or before 31 March 2001.
Accordingly, National Empowerment Trust Investment Fund (Proprietary)
Limited's ("NETIF") rights (as detailed in the circular to Arcay
shareholders, dated 21 July 2000), in terms of which it may swap its
remaining 50% shareholding in Arcay Finance Holdings Limited (formerly
Southern Bank of Africa Investment Holdings Limited) for 15 000 000 ordinary
shares in Arcay, remain unchanged.
As a result, it will not be necessary to issue a circular detailing
amendments to the original transaction (subject to shareholders' approval),
in terms of which NETIF would have been entitled to a further 2 500 000
ordinary shares in Arcay.
Shareholders are referred to the announcement to shareholders of 2 March
2001, as well as the circular to shareholders, dated 21 July 2000, for
further information.
By order of the Board
Arcay Client Support (Proprietary) Limited
Registration number 1998/025284/07
3 August 2001
Corporate advisor
Arcay Group Limited
Registration number 1991/003944/06
Sponsor
KPMG Corporate Finance
Investor Relations
Arcay Financial Communications
Registration number 1998/024383/07
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