Real Africa Holdings Real Africa Investments
Limited Limited
(Registration number (Registration number
1994/003919/06) 1994/000398/06)
("RAH") ("RAI")
(Collectively "the Real Africa Group")
FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement published on 12 February 2002, the
board of directors of RAH and RAI have resolved to unlock shareholder value
by proposing the distribution of the Real Africa Group's assets to
shareholders.
The proposals, if implemented, may result in the delisting of one or both
RAH and RAI from the JSE Securities Exchange South Africa.
Shareholders of RAH and RAI are therefore advised to continue to exercise
caution in dealing in their RAH and RAI shares pending further announcements
in this regard.
Houghton
27 March 2002
Merchant Bank and Sponsor Corporate Law Advisers and
Standard Corporate and Consultants
Merchant Bank Edward Nathan & Friedland
(A division of The Standard
Bank of South Africa
Limited) (Registration number
(Registration number 1999/026464/07)
1962/000738/06)
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