Arcay Group - Renewal Of Cautionary And Withdrawal
Arcay Group - Renewal Of Cautionary And Withdrawal Of Cautionary
Arcay Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/003944/06)
Share code: ARC ISIN code: ZAE000022406
Debenture code: ARCD ISIN code: ZAE000022398
("Arcay Group" or "the Group")
RENEWAL OF RESTRUCTURING CAUTIONARY ANNOUNCEMENT AND WITHDRAWAL OF
CAUTIONARY ANNOUNCEMENT RELATING TO THE REAL PEOPLE GROUP (PTY) LIMITED
(RPG) DEAL
Renewal of restructuring cautionary announcement
Following the announcements, dated 13 May 2002 and 14 August 2002, Arcay
Group wishes to inform shareholders that it is still engaged in a
significant restructuring and reorganisation process, designed to
position itself correctly for the markets in which it operates.
Shareholders are accordingly advised to continue to exercise caution
when dealing in their securities, until such time as a more
comprehensive announcement is made. This is anticipated to be before the
end of October and, insofar as it might be necessary, the approval of
shareholders will thereafter be sought.
Withdrawal of cautionary announcement
Following the announcements, dated 26 March 2002, 13 May 2002 and 14
August 2002 and, in light of the restructuring and reorganisation
process referred to above, together with the Group`s dispute with its
debentureholders as detailed in an announcement dated 27 September 2002,
Arcay Group advises that it will not proceed with the RPG deal at this
stage. Accordingly, the cautionary announcement, dated 26 March 2002, is
hereby withdrawn.
Johannesburg
1 October 2002
Sponsor
KPMG
Date: 01/10/2002 01:18:00 PM Produced by the JSE SENS Department
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