NORTHERN ENGINEERING INDUSTRIES AFRICA LIMITED (in liquidation)
(Incorporated in the Republic of South Africa)
(Registration number 1978/001240/06)
("NEI")
Code: NEI
ISIN Number: ZAE000004891
Liquidation Dividend and delisting of NEI Shares on the JSE Securities
Exchange
South Africa
Shareholders of NEI are notified that, as a result of certain claims against
NEI, and/or its subsidiary, NEI Africa Operations Limited, which remain
outstanding, the payment of the liquidation dividend has been delayed beyond
28 February 2002 and the delisting of the NEI shares on the JSE Securities
Exchange South Africa ("JSE") has been delayed beyond 1 March 2002, each as
stated in the circular to shareholders dated 22 June 2001.
Shareholders of NEI are advised, however, that an advance liquidation
dividend of 600 cents per NEI share will be paid to them on or about 25
March 2002.
The estimated total liquidation dividend remains at 1 100 cents per NEI
share, as stated in the circular to shareholders dated 22 June 2001.
Efforts to settle or otherwise resolve all outstanding claims are
continuing. It is not yet possible, however, to give any firm indication of
when these matters will be finalised. Shareholders will be notified of any
developments in this regard.
As soon as such claims have been settled or resolved, the liquidation
process will be completed and a final liquidation dividend paid.
Immediately following the payment of such dividend, the NEI shares will be
delisted on the JSE.
The Liquidator
c/o KPMG Administrators (Pty) Ltd
5 March 2002
Sponsor Legal advisor
KPMG Deneys Reitz
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
