Omnia Holdings Limited - Disposal Of Alpha (propri
OMNIA HOLDINGS LIMITED - DISPOSAL OF ALPHA (PROPRIETARY) LIMITED`S 34.5% EQUITY
STAKE IN OMNIA
(Incorporated in the Republic of South Africa)
(Registration number: 1967/003680/06)
Share Code: OMN
ISIN Code: ZAE000005153
("Omnia" or the "Company")
Disposal of Alpha (Proprietary) Limited`s 34.5% equity stake in Omnia
Oasis Asset Management ("Oasis") and Investec Asset Management ("Investec") have
between them in equal portions, acquired 10.6 million Omnia shares from Alpha
(Proprietary) Limited ("Alpha") at a price of R12.50 per share. Another 3.4
million Omnia shares were acquired from Alpha by Rand Merchant Bank ("RMB"),
also at R12.50 per share. Alpha, which held 14 million shares in Omnia
Holdings, have consistently stated their intention to divest of their stake in
Omnia as it was seen as non-core to Alpha`s business.
Oasis, Investec and RMB have acquired these shares, which represent 34.5% of
Omnia`s total market capitalisation, on behalf of their respective asset
management private clients.
Commenting on the transaction, Piet Viljoen, Portfolio Manager at Investec said:
"We are acquiring these Omnia shares as a long term investment as we believe
Omnia is an excellent business with good management and a strong balance sheet.
We believe there is significant upside in the share over the medium to long
term".
Johannesburg
12 July 2002
Date: 12/07/2002 04:16:10 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
