AST Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/021790/06)
("AST Group" or "AST")
(Share Code: AAA ISIN Code: ZAE000027397)
Withdrawal of cautionary announcement
The cautionary announcements of 25 June 2001 and 6 August 2001, regarding
the disposal of the Iscor Limited ("Iscor") shareholding in AST are hereby
withdrawn.
A delay has been introduced in the finalisation of the disposal of the Iscor
shareholding in AST because of the global market uncertainty following the
recent events in the USA. As a result of this volatility, AST and Iscor have
agreed to postpone the process until stability returns to the market.
The placement process to date has achieved the following important strategic
objectives:
- Analysing the business opportunities resulting from potential BEE
partnerships;
- Allocating the shares to a consortium of the chosen BEE partners;
- Eliminating the risk of a future overhang in AST shares;
- Retaining the new empowerment profile into the future.
The result is the creation of a BEE consortium of high-profile entities with
broad-based grassroots beneficiaries for the purpose of participating in the
placement. While the process is delayed, AST's operational relationship with
the consortium continues.
Shareholders are advised that caution is no longer required and that AST
will update shareholders of further developments.
Johannesburg
25 September 2001
AST legal advisors
Moss Morris Inc.
AST sponsor
HSBC
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