Glodina - Results of offer
Glodina Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/004150/06)
Share code: GDA ISIN: ZAE000002937
("Glodina")
Results of offer
The offer
Rand Merchant Bank is authorised to announce that the offer by Daun & Cie
AG. and Paul Schouten ("the offerors") to shareholders of Glodina, to
acquire their shares at a price of 7 cents per share ("the offer"), closed
at 16:00 on Wednesday 22 May 2002.
The offer has been accepted by the holders of 24 592 Glodina shares,
equivalent to 0.002% of the Glodina shares for which the offer was made,
resulting in the offerors holding 61.4% of the Glodina shares in issue.
Offer consideration cheques (in respect of certificated shareholders who
accepted the offer) have been posted and safe custody accounts (in respect
of dematerialised shareholders who accepted the offer) have been credited
today.
Recapitalisation
The controlling shareholders have indicated that it remains their intention
to recapitalise Glodina, which could entail, inter alia, a rights issue in
Glodina.
Hammarsdale
23 May 2002
Merchant Bank and transactional sponsor
Rand Merchant Bank
A division of FirstRand Bank Limited
Corporate Finance
Independent adviser
Deloitte & Touche Corporate Fiance
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
Date: 23/05/2002 05:32:00 PM Produced by the SENS Department
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