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COMMERCIAL FINANCE COMPANY LIMITED - DISTRIBUTION OF HOMECHOICE HOLDINGS LIMITED
SHARES
COMMERCIAL FINANCE COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Share code: CFC) (ISIN: ZAE000001343)
(Registration number 1944/000264/06)
("CFC")
DISTRIBUTION OF HOMECHOICE HOLDINGS LIMITED SHARES
1. INTRODUCTION
It was announced in the press on Wednesday, 11 December 2002 that the
liquidator of CFC, subject to his appointment being approved by the Master of
the High Court, expected to occur before Wednesday, 18 December 2002, has made
the decision in consultation with the Board of Directors of CFC to distribute
the 33 331 151 HomeChoice Holdings Limited ("HomeChoice") shares ("the
HomeChoice distribution shares") held by CFC, to CFC ordinary shareholders, in
specie, in the ratio of 3,27727 HomeChoice shares per CFC ordinary share held.
2. DISTRIBUTION OF HOMECHOICE DISTRIBUTION SHARES
CFC ordinary shareholders are informed that the appointment of the liquidator
is in the process of being approved by the Master of the High Court ("the
Master") and therefore the HomeChoice distribution shares will not be
distributed to CFC ordinary shareholders as set out in the press on Wednesday,
11 December 2002, but will be distributed as soon as the appointment of the
liquidator has been approved by the Master, which distribution will be made in
terms of the timetable set out below.
3. SALIENT DATES
Last day to trade in CFC ordinary shares on the
JSE Securities Exchange South Africa ("JSE") in
order to be recorded in the register by the
first record to receive the HomeChoice
distribution shares Tuesday, 31 December 2002
Shares will trade ex the HomeChoice
distribution shares from Thursday, 2 January 2003
First record date on which CFC ordinary
shareholders must be recorded in the
register to receive the HomeChoice
distribution shares Wednesday, 8 January 2003
HomeChoice distribution shares transferred to
the Central Securities Depository Participant
or broker, as the case may be, for CFC
ordinary shareholders who have dematerialised
their CFC ordinary shares on Thursday, 9 January 2003
HomeChoice distribution share certificates
posted to CFC ordinary shareholders who have
not dematerialised their CFC ordinary
shares from Thursday, 9 January 2003
Notes:
1. The above dates may be changed. Any such changes will be published in the
press and announced on the Securities Exchange News Service of the JSE.
2. CFC ordinary share certificates may not be dematerialised or rematerialised
between Thursday, 2 January 2003 and Wednesday, 8 January 2003, both days
inclusive.
Durban
19 December 2002
Corporate advisor
BOE Merchant Bank
A Division of BOE Bank Limited
Co. Reg. No. 1951/000847/06
Sponsor
BoE Securities (Pty) Ltd
Member of the JSE Securities Exchange South Africa
Co. Reg. No. 1995/012240/07
Legal advisor
Cox Yeats
Attorneys
Reporting accountants and auditors
Ernst & Young
Chartered Accountants (SA)
(Registered Accountants and Auditors)
Date: 19/12/2002 08:13:32 AM Produced by the JSE SENS Department
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