TRADEK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1964/0012963/06)
Share code:TDK ISIN: ZAE000018891
("Tradek" or "the Company")
NOTICE OF WITHDRAWAL OF FIRM INTENTION TO MAKE AN OFFER TO TRADEK
SHAREHOLDERS BY APPLETON LIMITED ("APPLETON")
Shareholders are advised that the board of directors of Tradek has been
notified by Appleton that it has withdrawn its firm intention to make an
offer to Tradek shareholders, for a cash consideration of 15 cents per
share, as detailed in the announcement dated 18 March 2002.
As detailed in the announcement the Appleton offer was conditional on
the satisfactory completion of a financial and legal due diligence
investigation in respect of Tradek and its operating subsidiaries. Appleton
has notified Tradek that it is not satisfied with the results of the due
diligence investigation and will not proceed with the offer.
The Tradek Board of directors has indicated its support for Tradek to play a
part in the consolidation of this industry, but is also confident about
Tradek's prospects as a stand-alone company. Shareholders are advised that
the company is expecting to announce its audited results, for the year
ending 31 March 2002, in the second half of May 2002.
17 April 2002
Johannesburg
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