MONEX LIMITED
(Registration number 1968/010805/06)
(Incorporate in the Republic of South Africa)
Share Code: MNX ISIN: ZAE000025748
("Monex" or "the Company")
CAUTIONARY ANNOUNCEMENT
Monex shareholders are advised that it is in negotiations regarding the
possible disposal of its interest in Canal Walk shopping centre to an
unrelated third party. Monex has an effective 33% interest in Canal Walk
Limited (previously Century City Centre Limited). This investment was
reflected in the company's balance sheet at R207 million as at 30 September
2001. The offer consideration under discussion does not exceed net book
value.
In view of the recent announcement regarding the offer to minority
shareholders of Monex by BoE Bank Limited ("the Offer") and the proposed
delisting of Monex, which appeared on SENS on 13 November 2001 and in the
press on 14 November 2001, KPMG has been appointed by the board of Monex to
advise it on the Offer. KPMG will take the possible disposal of Canal Walk
into account in forming its opinion.
As the successful completion of negotiations may have an effect on the price
at which Monex shares trade on the JSE Securities Exchange South Africa,
Monex shareholders are advised to exercise caution when dealing in their
Monex shares until a further announcement is made. Should a transaction be
concluded, full details will be included in the circular to be sent to
shareholders regarding the Offer and proposed delisting of Monex.
Cape Town
19 November 2001
Corporate adviser Independent adviser and lead sponsor Co-sponsor
BoE Merchant Bank KPMG BoE Securities
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