Brainware Limited - Further Cautionary Announcemen
Brainware Limited - Further Cautionary Announcement
BRAINWARE LIMITED
Registration number 1997/006894/06
Share code : BRW
ISIN code : ZAE000018289
("Brainware")
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcement of 25 April 2002 ("the
acquisition announcement"), in terms of which they were advised, inter alia,
that Brainware has entered into a memorandum of understanding with Resource
Management Integration Group (Proprietary) Limited and RMMS Consulting
(Proprietary) Limited (collectively "the vendors") relating to the proposed
acquisition by Brainware of the entire issued share capital of Southern
Electricity Company (Proprietary) Limited ("the proposed acquisition").
Quaestor Capital (Proprietary) Limited is authorised to announce that the
reciprocal due diligence investigations referred to in the acquisition
announcement, although being in an advanced state of completion, have not
yet been finalised. The vendors as well as Brainware have however indicated
that their respective investigations have so far not revealed any factors or
circumstances that may prevent the implementation of the proposed
acquisition. The parties have furthermore indicated that a final
announcement in this regard may be expected in approximately one week from
the date of this announcement.
Brainware shareholders are accordingly advised to continue to exercise
caution in their dealings in Brainware shares until such time as a final
announcement regarding the proposed acquisition has been made.
Centurion
27 May 2002
CORPORATE ADVISOR AND SPONSOR
Quaestor Capital (PTY) LTD
Registration number 1991/007330/07
Date: 27/05/2002 08:00:00 AM Produced by the SENS Department
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