APS TECHNOLOGIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/024100/06)
(Share code: APE ISIN code: ZAE 000017927)
("APS" or "the company")
Profit warning
APS shareholders are advised that APS has incurred significant losses for
the twelve-month period ended 31 December 2001.
These exceptional losses have arisen due to the decline in the business
activities of the company during the last twelve months, the
uncollectability of various debtors and the obsolescence of certain stock
items and certain restructuring costs which, to a large extent, are directly
attributable to the negative publicity received by the company in the press
during the first quarter of 2001.
Details of the exceptional losses referred to above will be included in the
company's audited results which will be published in the press and posted to
APS shareholders by no later than 31 March 2002.
Shareholders are further advised that, in terms of the JSE Securities
Exchange South Africa ("JSE") Listings Requirements, the company is required
to appoint a sponsor when an announcement of this nature is published. The
company does not have a sponsor at this time, but nonetheless the JSE has
allowed this announcement to proceed to ensure that shareholders are fully
informed. The JSE has informed the company that it needs to appoint a
sponsor within 14 (fourteen) calendar days of this announcement, failing
which the JSE may suspend the listing of the company in terms of Section 17
of the Stock Exchange Control Act, as read with paragraph 1.4 of the JSE
Listings Requirements.
By order of the board
Pretoria
19 February 2002
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