Furnex Capital - Further Announcement Regarding Di
Furnex Capital Limited
(Incorporated in the Republic of South Africa)
(Registration number 1945/008543/06)
JSE Share code: FRC ISIN: ZAE000022778
("Furnex" or "the company")
Further announcement in respect of the disposal of all the businesses of
Furnex and the subsequent delisting and winding-up of Furnex
Shareholders are referred to the Furnex circular dated 17 January 2002
and the press announcement dated 11 February 2002, wherein it was announced
that Furnex would dispose of all its businesses and would be wound up by way
of a members' voluntary winding-up. It was also announced that a
distribution would be made to Furnex shareholders of an initial liquidation
dividend in anticipation of the voluntary winding-up, of 115 cents per
Furnex share. Thereafter, Furnex would pay as a final liquidation dividend
the balance, if any, of the cash held by Furnex after all the remaining
assets had been realised and liabilities settled.
The approval of the competition authorities in terms of the Competition
Act, 89 of 1998, as amended, of the disposal of the business of Furnex
Stores (Pty) Limited and the shares in and shareholders' claims on loan
account against Furnex Dealers Indemnity (Pty) Limited, to a new company
controlled by Massmart Holdings Limited ("the Furnex Stores disposal"),
which was anticipated by no later than 31 March 2002, has not yet been
received. Accordingly, as this condition precedent has not yet been
fulfilled, the proposed important dates and times as set out in the circular
to Furnex shareholders dated 17 January 2002 will be amended.
Once this condition precedent has been fulfilled, an announcement
regarding the Furnex Stores disposal becoming unconditional, details of the
Furnex voluntary winding-up and the final dates relating to both the initial
and final liquidation dividends will be published in the press and on SENS.
Johannesburg
28 March 2002
Merchant bank
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Sponsor
Investec Securities Limited
Member of the JSE
(Registration number. 1972/008905/06)
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
