Anglovaal Mining Limited - Cautionary Announcement
Anglovaal Mining Limited
(Reg. No. 1933/004580/06)
(Incorporated in the Republic of South Africa)
Share codes:
JSE Securities Exchange, South Africa: AIN
ISIN: ZAE000017141
London Stock Exchange: AGM
("Avmin" or "the Company")
Cautionary Announcement
A Memorandum of Understanding ("MOU")has been entered into with J&W Holding AG
(incorporated in Switzerland) ("J&W") regarding the potential acquisition of
Avmin"s 90 per cent stake in Chambishi Metals plc ("Chambishi"). Chambishi is a
primary cobalt/copper producer located on the Zambian Copperbelt.
The MOU permits J&W to have exclusivity for two months to conduct a due
diligence study. Based on the outcome of this study, detailed terms will be
finalised and a sales and purchase agreement concluded. The transaction is
subject to approval from lending institutions and the authorities in Zambia and
South Africa, as well as approval by the Avmin and J&W boards of directors.
Shareholders are advised to exercise caution in dealings in the Company"s
securities until a further announcement is made.
Johannesburg, South Africa
08 April 2003
Sponsor:
Deutsche Securities (SA) (Proprietary) Limited
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
