Labat Africa Limited - Termination Of Discussions And Withdrawal Of
Cautionary Announcement
Labat Africa Limited
(formerly Acrem Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
JSE Share code: LAB ISIN: ZAE000018354
("Labat")
TERMINATION OF DISCUSSIONS WITH ALLIED TECHNOLOGIES LIMITED AND
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
1. INTRODUCTION
Shareholders are referred to the announcement of 3 May 2002 where Labat
advised shareholders of a proposed transaction with Allied Technologies
Limited ("Altech") where Labat, subject to certain suspensive conditions,
was to dispose of certain businesses ("Labat businesses") to Altech Data
(Proprietary) Limited ("Altech Data"), a wholly owned subsidiary of Altech,
in accordance with Section 228 of the Companies Act, 1973 (Act 61 of 1973)
("disposal").
2. TERMINATION OF DISCUSSIONS
The parties could not agree on the price and the funding for the Altech
Data businesses and therefore the parties have mutually decided to terminate
discussions regarding the disposal.
3. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
As the discussions between the parties have been terminated shareholders
are advised that caution is no longer required when dealing with Labat
shares on the JSE Securities Exchange South Africa.
Johannesburg
21 June 2002
Corporate advisor
Brait
Attorneys to Labat
Evan Scop Attorneys
Sponsor to the transaction
Brait Sponsors (Proprietary) Limited
(Registration number 2000/031069/07)
Date: 21/06/2002 05:22:00 PM Produced by the SENS Department
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