Micromega Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/003821/06)
ISIN Code: ZAE000034435
Share Code: MMG
("MICROmega") ("the Company")
Directors Resignations and Resignation of Auditors
Mr. John Newbury and Mr. Anthony Fletcher have resigned from the company with
immediate effect. Mr. Newbury was the Chairman of the Board of Directors and Mr.
Fletcher was the Chairman of the Audit Committee. The resignation of Messrs
Newbury and Fletcher follows the recent resignation of Moss Ngoasheng and leaves
the company in the position of having no non-executive directors.
The Auditors of the company have also resigned and early indications are that
the company will have difficulty in replacing its auditors due to the perceived
reputational risk arising from the well publicised allegations against Messrs
Morris and King. The results for the year ended December 2002 cannot be
finalised until new auditors have been appointed. It is not anticipated that
this will be achieved in the short term.
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