Energy Africa Ltd - Cautionary announcement
Energy Africa Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1995/007140/06
JSE Code: ENR ISIN Number ZAE 000010427
Cautionary announcement
The following is the text of an advertisement placed by Energy Africa in
certain South African newspapers today:
"Urgent message for Energy Africa shareholders. Why you should wait.
Energy Africa advises its shareholders to continue exercising extreme
caution before dealing in the shares of the company.
Petronas has made an unsolicited offer for all the shares in Energy
Africa, other than the shares held by Engen Limited, its subsidiaries,
Petronas or their concert parties.
Except with the consent of the Securities Regulation Panel the Petronas
offer, subject to the conditions contained therein, cannot be withdrawn
until a minimum of 21 days after Petronas has posted its offer document
to Energy Africa shareholders. You will have until at least the 21st day
after the offer document has been posted to accept the offer, should you
decide to do so. Petronas has yet to post its offer document, which it
is obliged to do no later than 5 October 2002.
Your Board firmly believes that the offer does not fully value your
company.
Your Board is determined to achieve maximum value for Energy Africa
shareholders. Your Board, together with its advisers, is examining all
options to maximise value for Energy Africa shareholders and will be
writing to Energy Africa shareholders in due course.
Your Directors do not intend to accept the offer in respect of their own
beneficial holdings of Energy Africa shares.
Shareholders are strongly advised to exercise extreme caution and
consult with their independent financial adviser before dealing in
Energy Africa shares."
11 September 2002
Enquiries:
Rhidwaan Gasant
Managing Director, Energy Africa Tel: + 27 21 400 7600
Definitions:
`Energy Africa` :Energy Africa Limited
`Petronas` :Petronas International Corporation Limited
`Board` :Board of Energy Africa Limited excluding the Engen Limited
appointed directors (Dato` M Idris Mansor, George B D Paul and Tunku M
Fawzy b. Tunku Muhiyiddin)
`Directors` :Directors of Energy Africa Limited excluding the Engen
Limited appointed directors (Dato` M Idris Mansor, George B D Paul and
Tunku M Fawzy b. Tunku Muhiyiddin)
Date: 11/09/2002 08:36:00 AM 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.
