Unifer Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/010061/06)
(JSE code:UNF ISIN: ZAE000027504)
("Unifer" or "the company")
UPDATE TO UNIFER SHAREHOLDERS
Further to the announcements dated 15 January 2002 and 17 January 2002, the
directors of Unifer advise that the board of Unifer are progressing in their
determination of the net asset value of Unifer at 31 December 2001.
Likewise, the external auditors, Ernst & Young, are progressing in their
review of the net asset value of Unifer to be determined by the board of
Unifer. The Board of Directors of Unifer has appointed Deloitte & Touche
to provide an independent review of the reasonableness of the methodology
and assumptions used in determining the net asset value of Unifer to be
approved by the board.
Unifer has appointed Barnard Jacobs Mellet Corporate Finance (Pty) Limited
as independent advisors to the Board of Directors of Unifer to ensure that
the proposed restructuring of the company's financial position is equitable
to the minority shareholders of Unifer.
In terms of paragraph 1.4 of the Listing Requirements of the JSE Securities
Exchange of South Africa ("JSE"), the JSE Listings Division has, due to the
non-finalisation by the board of Unifer of the net asset value calculation,
extended the suspension of the listing of Unifer shares on the JSE to 15
February 2002. A further announcement regarding the net asset value
calculation as determined by the board of Unifer and proposed restructuring
plans will be made on or prior to that date.
Merchant bank Sponsor and Corporate Advisor
ABSA Corporate & Merchant Bank Barnard Jacobs Mellet Corporate
Finance (Pty) Limited
Johannesburg
31 January 2002
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
