RRM - Announcement
RRM INVESTMENT HOLDINGS LIMITED
(Registration Number 1987/004368/06
("RRM" or "the company")
ISIN number: ZAE000030078 Share code: RRM)
DELAY IN IMPLEMENTATION OF, AND AMENDMENT TO,
PROPOSED TRANSACTION AND PROBABLE DELISTING
Further to the announcement dated 2 September 2002 in which shareholders were
advised that agreement had been reached for the acquisition by RRM, subject to
certain conditions precedent, of the share capital of and loan accounts to
International Grape Corporation (Pty) Ltd ("InterGrape") ("the transaction"),
shareholders are informed that certain of the conditions precedent have not yet
been met. Implementation of the transaction has been postponed while the
management of InterGrape concentrate their efforts on the picking and sales
season.
Shareholders are advised, however, that the directors of the company are now
pursuing an expanded proposal to acquire InterGrape and certain neighbouring
vineyards. It is intended that implementation will recommence after the
conclusion of the current grape picking and sales season, which is expected to
be by 31 January 2003. Trading in the company`s shares on the JSE Securities
Exchange South Africa ("JSE") remains suspended. Resulting from the delay in
implementation, the JSE will delist RRM at the commencement of trade on 2
January 2003.
Sandton
8 November 2002
Reporting Accountants Sponsor Attorneys
KPMG Inc LPC Manhattan Webber Wentzel
Date: 08/11/2002 05:48:21 PM Produced by the JSE SENS Department
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