consideration
Arcay Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/003944/06)
Share code: ARC ISIN code:ZAE 000022406
Debenture code: ARCD ISIN code:ZAE 000022398
("Arcay", "Arcay Group" or "the Company")
Settlement of early redemption and scrip offer consideration
Arcay debenture holders are advised that the settlement of the early
redemption offer consideration and the scrip offer consideration which was
due on Monday 25 March 2002 as set out in the circular to debenture holders
dated 2 November 2001 has been delayed in anticipation of a settlement being
reached between the trustee and the Company.
Payment will be made in full on Wednesday 3 April 2002 together with accrued
interest. Shares surrendered in terms of the scrip offer will be
transferred to the Arcay Group Limited Employees Share Trust on Wednesday 3
April 2002.
At this stage, settlement negotiations are still continuing between the
company and the trustee.
Further details of the results of the early redemption offer and the scrip
offer and details of any settlement reached between the trustee and the
company will be communicated in due course.
Arcay Client Support (Pty) Ltd
(Reg No 1998/025284/07)
Company Secretary
Parktown
28 March 2002
Sponsor: KPMG Services (Pty)
Ltd
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