RELYANT RETAIL LIMITED - AMENDMENT OF SALIENT DATES OF DISPOSAL OF MICROLOAN
BUSINESS
RELYANT RETAIL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1937/010108/06)
Share code: RLY ISIN number: ZAE 000016457
("Relyant" or "the Group")
AMENDMENT OF SALIENT DATES OF DISPOSAL OF MICROLOAN BUSINESS
Shareholders are referred to the announcement dated 30 April 2002 wherein it
was stated that an agreement had been signed between Relyant and FirstRand
Bank Limited ("FirstRand"), one of Relyant`s major providers of finance,
whereby Relyant, subject to the fulfilment of the certain conditions
precedent ("conditions precedent"), will cede its defined loan book to
Business Venture Investments No 607 (Pty) Limited, a company established for
the purpose of acquiring the microloan business of Relyant ("the
transaction").
One of the conditions precedent to the transaction was the fulfilment of all
conditions precedent by 31 May 2002. Shareholders are advised that FirstRand
and Relyant have mutually agreed to extend the final date for the fulfilment
of all conditions precedent to 14 June 2002.
The relevant documentation setting out the full details of the transaction
and a notice convening a general meeting of ordinary shareholders was posted
to shareholders on Friday, 24 May 2002.
Johannesburg
27 May 2002
Merchant bank Sponsor to Relyant Reporting accountants
and auditors to
Relyant
Investec Bank Limited Investec Bank Limited Deloitte & Touche
Legal adviser to Adviser to FirstRand
Relyant RMB Corporate Finance
Peter Dawe and
Associates
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