Securities Regulation Panel
("the Panel")
EXPLANATORY STATEMENT
In Re:
The Appeal by MGX Holdings Limited and the Trustees of the Mandy Rebecca
Price Trust
Appellants
against
the ruling of the Executive Committee of the Panel dated 5 July 2001 and
7 August 2001
Respondent
To ensure clarity in the interpretation of the Panel's ruling in this matter
dated 18 March 2002, the Panel advises that the unconditional offer to be
made by the Appellants to "all persons other than the two Appellants who
were shareholders of EC Hold Limited on 11 October 1999"
applies to:
(i) shareholders of EC Hold Limited registered as such on 11 October 1999
and who had not sold or otherwise disposed of their shares in EC Hold
Limited on or prior to that date; and
(ii) persons who had purchased or otherwise acquired EC Hold Limited shares
on or prior to 11 October 1999 and who had not by that date registered such
shares in their name or the name of a nominee.
Dated at Johannesburg this 28th day of March 2002.
Chairperson
C A JAFFE'
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