Beige - Trading Update And Extension Of Rights Off
Beige - Trading Update And Extension Of Rights Offer To Option Holders
BEIGE HOLDINGS LIMITED
(Registration number 1997/006871/06)
("Beige" or "the company")
JSE Code: BEG ISIN Code: ZAE000034161
TRADING UPDATE AND EXTENSION OF RIGHTS OFFER TO OPTION HOLDERS
Following a request at the general meeting of shareholders on 28 August
2002 and ahead of the closing of the underwritten rights offer, Beige
directors are pleased to provide shareholders with an update on trading
to 31 August 2002. Continuing revenue, operating profit and net profit
before taxation have all increased significantly in relation to the
comparative period in the prior year. In addition Beige received an
unexpected liquidation dividend of approximately R978 000 which will be
reflected as an abnormal income item for the period. Full details of
the above will be provided when the company publishes its interim
results in November 2002.
Beige expect a continued improvement, in line with budget, in operating
and net profit for the next six months ending 28 February 2003 as it
enters its traditionally busy period.
With regard to the extension of the rights offer to option holders,
14 500 000 new shares have been taken up by Beige directors and other
option holders at 5 cents per share.
The posting of the annual financial statements has been delayed due to
the shareholders meeting that took place on 28 August 2002. The annual
financial statements will be posted to shareholders within two weeks.
Johannesburg
03 September 2002
Date: 03/09/2002 09:45:00 AM Produced by the JSE SENS Department
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