Million Air Charter Limited - Further Cautionary A
MILLION AIR CHARTER LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000092/06)
("Million Air" or "the Company")
Share Code: MLL
ISIN Number:ZAE000017810
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement published on 6
December 2001, where it was advised that Million Air had increased its fleet
of large aircraft through the acquisition of a McDonnell Douglas DC9-32. The
fleet was then further increased by the acquisition of two more Mcdonnell
Douglas DC9-32 ("the acquisition"). These aircraft will be leased to a
domestic scheduled operator, 50 percent owned by the company.
The acquisition in the interim has been financed through the company's
normal banking facilities supported by facilities provided by the
controlling shareholders. In the first quarter of 2002 Million Air plans to
hold a rights offer to replace a portion of the borrowings incurred to fund
the acquisition.
Shareholders are advised to continue exercising caution when dealing in the
company's securities until a further detailed announcement regarding the
acquisition and the rights offer is made.
Johannesburg
30 January 2002
Sponsor
SASFIN BANK LIMITED
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