Super Group Limited - Cautionary Announcement Rega
Limited's Stake In Unifer Holdings Limited
Super Group Limited
(Registration Number1943/016107/06)
(Share Code: Spg)
(Isin Number: Zae000011334)
Cautionary Announcement Regarding Super Group Limited's Stake In Unifer
Holdings Limited
Shareholders Are Referred To The Unifer Holdings Limited ("Unifer")
Announcement, Whereby The Jse Has Suspended Unifer's Shares And Notified
Shareholders Of The Potential Shortfall In The Provisions For Bad Debts, As
Well As The Proposed Rights Issue. Super Group Owns, Directly And
Indirectly, Approximately 19% Of The Total Issued Share Capital Of Unifer.
Circumstances At Unifer May Have An Impact On Headline Earnings Of Super
Group, However Recent Foreign Exchange Gains Resulting From A Weaker Rand
Should Ameliorate The Earnings Shortfall.
A Potential Impairment Of Super Group's Investment In Unifer Will Be
Dependent On The Results Of The Investigation As Detailed In Unifer's
Announcement.
The Effect On Cashflow Will Be Minimal Given The Equity Accounting Treatment
Of Unifer. The Only Cash Flow Received From The Investment To Date Has Been
In The Form Of Dividend Payments.
Super Group Stated Two Years Ago That Unifer Had Been Identified As Non-Core
To The Business. The Current Situation Will Have No Effect On The Core
Ongoing Operations Of Super Group.
Shareholders Are Advised To Exercise Caution In Their Dealings In Super
Group Shares, And Will Be Advised Of Further Developments In This Regard.
15 January, 2001
Johannesburg
2001
Sponsor:
Deutsche Securities (Sa) Proprietary Limited
(Registration Number: 1995/011798/07)
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