Incorporated in the Republic of South Africa)
(Registration number 1968/000216/06)
("Unihold")
Share Code : UHS
ISIN Code : ZAE000007589
SATISFACTORY COMPLETION OF DUE DILIGENCE
Further to the announcement dated 28 March 2002, in which Unihold
shareholders were advised that the Board of Unihold had received a letter
from Clidet No. 390 (Proprietary) Limited ("Clidet") expressing its firm
intention to make an offer to acquire all the shares of Unihold not already
owned by a consortium (comprising directors and senior management of
Unihold) for a cash consideration of 280 cents per Unihold share ("the
transaction"), shareholders are advised that Clidet has satisfactorily
completed a due diligence on the South African operations of Unihold.
The remaining conditions precedent to the transaction, including, inter
alia, the obtaining of the requisite shareholder approvals, are in the
process of being implemented. A further announcement containing details of
the terms, financial effects and salient dates of the transaction will be
published in due course.
Johannesburg
15 April 2002
Sponsor to Unihold Merchant bank to Attorneys to Attorneys to
Clidet Unihold Clidet
Bridge Capital
Services Absa Corporate Werksmans Cliffe Dekker
(Proprietary) and Merchant Bank
Limited
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