Mettle -
(Incorporated in the Republic of South Africa)
(Registration number 1996/010795/06)
Share code: MEL ISIN: ZAE000028569
("Mettle" or "the company")
ANNOUNCEMENT TO THE SHAREHOLDERS OF iPROP HOLDINGS LIMITED ("iPROP HOLDINGS") OF
A REVISED OFFER TO ACQUIRE THE BUSINESSES OF iPROP HOLDINGS, iPROP LIMITED AND
LERIX INVESTMENTS (PTY) LIMITED
1. INTRODUCTION
1.1 An announcement was published on 10 March 2003 in which Rowan Tree 4
(Proprietary) Limited ("Rowan Tree 4") announced that it had delivered an offer
to the board of directors of iProp Holdings.
1.2 As a result of discussions with the directors of iProp Holdings and a
review of additional information obtained from iProp Holdings and its
subsidiaries, Rowan Tree 4 has revised its original offer.
2. DOCUMENTATION AVAILABLE FOR INSPECTION
2.1 The revised Rowan Tree 4 Offer, as well as the revised Nedbank Limited
payment guarantee, have been delivered to the directors of iProp Holdings.
Copies of these documents are open for inspection by shareholders of iProp
Holdings and their respective advisers, at the offices of Mettle Limited, 33
Fricker Road, Illovo Boulevard, Sandton.
2.2 Should any iProp Holdings shareholder wish to make such inspection, this
can be arranged by contacting any of the following employees of Mettle:
Reinette Fleischmann - (011) 446-9200 or Anisabel van Zyl - (021) 915-3300.
2.3 If an iProp shareholder or its adviser wishes to discuss any aspects of
the Rowan Tree 4 Offer, this can be arranged through contacting any one of the
individuals referred to in paragraph 2.2 above.
2.4 Rowan Tree 4 anticipates that the board of directors of iProp Holdings
will shortly publish its views on, and its recommendations concerning, the
revised Rowan Tree 4 Offer.
Johannesburg
27 March 2003
Corporate advisor
Mettle Limited
Corporate Finance Division
(Registration number 1996/010795/06)
Legal advisor
Prinsloo, Tindle & Andropoulos Inc.
Attorneys
Transactional sponsors
Exchange Sponsors
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
