Johnnic Communications Limited
(Registration number 1889/000352/06)
Share code: JCM
ISIN: ZAE000024584
("Johncom" or "the company")
Announcement
Johncom shareholders are referred to recent media speculation concerning a
potential sale by Johnnic Holdings Limited ("Johnnic") of its 62,5% shareholding
in Johncom. On 13 January 2003 Johnnic issued an announcement on SENS clarifying
that Johnnic is investigating various options with regard to all its assets,
including its shareholding in Johncom. The options include but are not limited
to the possible disposal by Johnnic of its stake in Johncom ("the Johnnic
process"). Johncom has appointed advisers to advise it on the implications of
the Johnnic process and any transactions that may arise therefrom.
The board of directors of Johncom confirms it is not currently considering the
disposal of any of the underlying business units of Johncom, media or otherwise.
Johncom will continue to operate and manage its underlying businesses in the
normal course whilst the Johnnic process unfolds and reiterates its commitment
to its shareholders, business partners, customers and staff, and to black
economic empowerment.
Johannesburg
27 January 2003
Investment bank and joint sponsor
Nedbank Corporate
Corporate law advisors and consultants
ENF
Joint sponsor
Merrill Lynch
Date: 27/01/2003 05:16:00 PM Produced by the JSE SENS
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