ANNOUNCEMENT
Shareholders are advised that further to the cautionary announcement dated
30 October 2001, Daun & Cie. AG and P Schouten ("the acquirors") have
purchased 7 000 000 and 8 806 583 Glodina shares, respectively, at 7 cents
per share on 6 November 2001, representing approximately 49,3% of the issued
shares in the Company. This acquisition, together with Daun & Cie. AG's
existing shareholding, result in the acquirors controlling approximately
61,3% of the issued shares in the Company.
The acquirors and the board of Glodina will co-operate to restructure and
refinance the Company. A board meeting will be convened shortly where two
representatives of the acquirors will be appointed who will work with the
board to formulate the future plans for the Company.
Shareholders will be advised of the offer to minorities as part of the
restructuring process in due course, which offer will not be at a price
lower than 7 cents per share. Shareholders should therefore continue to
exercise caution when dealing in the securities of Glodina, until a further
announcement is made.
Hammarsdale
7 November 2001
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Registration number 1996/000034/07)
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