Rentsure Holdings Limited - Further Cautionary Ann
Rentsure Holdings Limited
Registration number 1946/023539/06
Share code: RNT
ISIN code: ZAE000012811
("Rentsure")
FURTHER CAUTIONARY ANNOUNCEMENT
1. Further cautionary announcement
Shareholders are referred to the announcement dated 14 November 2001 and are
advised that Rentsure remains involved in negotiations with a view to
implementing the transactions set out in the announcement dated 3 October
2001. Accordingly, shareholders should exercise caution when dealing in
their Rentsure securities.
2. Changes to the board of directors
The following changes were effected to the board of directors of Rentsure's
70% subsidiary, Rentmeester Assurance Limited ("Rentmeester"):
- Mr Gert Wessels has been appointed as executive director and Acting Chief
Executive Officer;
- Mr Daan le Roux has been appointed as non-executive director; and
- Mr Vuli Cuba has resigned.
3. Publication of Rensure's audited results
Shareholders are referred to the publication elsewhere today of Rentsure's
audited results for the year ended 30 June 2001.
4. Earnings statement
The board of directors ("the Board") wishes to advise shareholders that it
expects the earnings of Rentmeester to be below market expectations in
respect of the period ending 31 December 2001. The Board, in the light of
the impending merger of Rentmeester with Assupol as more fully described in
the announcement dated 3 October 2001 ("the merger"), has embarked upon a
comprehensive restructuring and consolidation exercise so as to optimise the
benefits of the merger. This, coupled with the developments surrounding the
Persal deduction system, the effects of which will only be fully absorbed by
Rentmeester by January 2002, will impact on Rentmeester's earnings for the
six months ending 31 December 2001.
Pretoria
19 December 2001
Corporate Advisor and Sponsor
Quaestor Capital
Quaestor Capital (PTY) LTD
Registration number 1991/007330/07
Corporate Law Advisors
Gildenhuys van der Merwe Inc
Attorneys, Notaries and Conveyancers
(Registration number 1987/002114/21)
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