Coronation Support For The Sale By African Harvest
Coronation Support For The Sale By African Harvest Of Its Businesses
Coronation Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1902/001739/06)
Ordinary shares CRH)
(ISIN number: ZAE000001772)
(`N` ordinary shares CRN)
(ISIN number: ZAE000010369)
("Coronation" or "the company")
Coronation support for the sale by African Harvest of its businesses and
certain net assets to Business Venture Investments No. 674 (Pty) Ltd
("BVI")
On 22 July 2002 African Harvest published an announcement stating that
it had entered into an agreement with BVI for the sale of the businesses
and a substantial portion of the assets, and the assumption by BVI of
certain of the liabilities, of the company as a going concern. It is
fundamental to African Harvest`s interests, and those of its
shareholders, that clarity on the future direction of the company be
provided without further delay.
Further to the announcement by Coronation on 19 June 2002, of its
intention to support the BVI offer this announcement serves to confirm
that, on the basis of the information set out in the African Harvest
announcement of 22 July 2002, and subject to the fulfillment of the
suspensive conditions in the agreement between African Harvest and BVI,
Coronation will vote in favour of acceptance of the BVI offer at the
shareholders` meeting which is about to be convened for that purpose.
As at the date of this announcement Coronation is able to exercise
voting control over 55,16% of the issued share capital of African
Harvest.
Shareholders in Coronation are referred to the African Harvest
announcement of 22 July 2002 which gives full details of the proposed
sale and the financial effects thereof.
Cape Town
8 august 2002
Sponsor:
Deutsche Securities (SA) (Pty) Limited
(Registration number 1995/011798/07)
Legal Advisor:
Deneys Reitz Attorneys
Deneys Reitz Inc.
(Registration number 1984/003385/21)
Date: 08/08/2002 02:31:43 PM Produced by the JSE SENS Department
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