Ccih - Further Cautionary Announcement And Trading
CCIH - Further Cautionary Announcement And Trading Update
CCI HOLDINGS LIMITED
(Formerly Y2KTec Limited)
(Incorporated in the Republic of South Africa)
(Registration No 1999/02149/06)
("CCIH")
Share code: CCG
ISIN: ZAE000018420
FURTHER CAUTIONARY ANNOUNCEMENT AND TRADING UPDATE
Shareholders are referred to the cautionary announcement released on
SENS and published in the press on Friday, 2 August 2002.
CCIH is at present involved in a number of negotiations. These include:
- the disposal of a loss-making subsidiary;
- the capitalisation of a shareholder`s loan account which will be
implemented by way of a claw-back rights offer; and
- the possible acquisition of one or more businesses that are
complementary to CCIH`s activities.
All the above negotiations and discussions referred to are progressing.
At the time of the issue of CCIH`s revised listing particulars on 29
November 2001, the directors had forecast headline earnings of 1,4 cents
per share for the year ending 31 December 2002 based on certain
assumptions. It has become apparent that this forecast will not be
achieved for a number of valid reasons. Although the directors are of
the opinion that the strategy adopted at the time of the listing is
still appropriate and valid for the future growth of CCIH, it has taken
longer than anticipated to integrate the various business operations
acquired by CCIH and to conclude other acquisitions of companies and
businesses that are complementary to the activities of CCIH. The full
effects and benefits of the business model will however become evident
in the 2003 financial year.
Shareholders are accordingly advised to continue to exercise caution
when dealing in their shares on the JSE Securities Exchange South Africa
until a further announcement is made.
Johannesburg
23 September 2002
Corporate adviser and sponsor
The Janus Corporation (Pty) Ltd
Date: 23/09/2002 07:15:00 AM Produced by the JSE SENS Department
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