Global Technology Limited - Global Technology Aust
Global Technology Limited - Global Technology Australasia Trading Update
GLOBAL TECHNOLOGY LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1996/009809/06)
("GLOTEC")
GLOBAL TECHNOLOGY AUSTRALASIA TRADING UPDATE
Glotec shareholders are advised that Global Technology Australasia Limited
(GTA), a subsidiary of Glotec, listed on the Australian Stock Exchange, has
issued a trading update. The details are as follows:
- GTA will proceed with a re-organisation and restructuring of its
operations, which includes the proposed delisting of the company from the
Australian Stock Exchange. In order to give shareholders sufficient time to
consider this information, the Board of Directors have halted trading of
the share for the next 48 hours
- Directors of GTA, Robert Edge and Johan van Jaarsveld have resigned,
effective 31 December 2002
- As a result of being unsuccessful on a major tender, GTA will need to
revise its profit forecasts for the year ending 31 December 2002. It is
anticipated that the company may record a loss as at 31 December 2002
- The proposed acquisition by GTA of Decillion Solutions (Pte) Ltd will not
proceed, as not all conditions precedent could be fulfilled
By order of the Board
Arcay Client Support (Pty) Ltd
Company secretary
Johannesburg
19 December 2002
Arcay Group
JOINT CORPORATE ADVISOR
Gensec Bank Limited
SPONSOR AND JOINT CORPORATE ADVISOR
Arcay Financial Communications
INVESTOR RELATIONS
Date: 19/12/2002 07:31:32 AM Produced by the JSE SENS Department
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