Barnard Jacobs Mellet Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/004798/06)
Share code : BJM
ISIN code: ZAE000014262
("BJMH" or "the company")
CASH OFFER TO ACQUIRE THE ENTIRE BUSINESS OF BJMH AS A GOING CONCERN
The directors of BJMH announce that they recently received a cash offer of
R460 million for the entire business of BJMH as a going concern, subject to
certain conditions precedent. The offer price equated to approximately
R4,03 per share based on the number of shares currently in issue or R4,31
per share excluding BJMH shares held as treasury stock by the BJMH group.
After due consideration by the Board and discussion with the company's
institutional shareholders, the Board has decided to decline the offer.
Johannesburg
28 March 2002
Joint sponsors:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Deloitte & Touche Sponsor Services (Pty) Limited
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