S&J Land Holdings Limited - And Extension Of
Mandatory Offer And Share Repurchase Option
S&J Land Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/000139/06)
Share code: SJL ISIN: ZAE000009965
("S&J" or "the Company")
FURTHER CAUTIONARY ANNOUNCEMENT and EXTENSION OF MANDATORY OFFER AND SHARE
REPURCHASE OPTION
Introduction
Further to the announcement dated 22 April 2003, the board of directors of
S&J wishes to advise shareholders that the discussions referred to therein are
in the process of being finalised and a detailed announcement will be made as
soon as possible.
The discussions contemplate, inter alia, an offer for the ordinary shares of,
as well as the injection of certain assets into, the Company. The offer
consideration contemplated is substantially higher than the current mandatory
offer of 39,4 cents per share ("mandatory offer"), which is due to close at
16:00 on Friday, 23 May 2003 and will be extended as set out below.
Extension of mandatory offer and share repurchase option
As a consequence of the aforementioned discussions and to ensure that
shareholders have enough time to consider the acceptance of the mandatory offer,
the offeror has agreed to extend the mandatory offer for a further period. The
mandatory offer will now close at 16:00 on Friday, 27 June 2003, instead of
16:00 on Friday, 23 May 2003. The last day to trade in order to participate in
the offer and the share repurchase option will accordingly be Friday, 20 June
2003 and the record date will be Friday, 27 June 2003.
Payment of the mandatory offer consideration will be made within five
business days of receipt of the documents of title by the transfer secretaries
in the case of certificated shareholders, or receipt of the relevant instruction
by the transfer secretaries from STRATE in the case of dematerialised
shareholders.
Shareholders are reminded that if they accept the mandatory offer they will
not be entitled to participate in the offer referred to in this announcement or
in any other third party offer.
Further cautionary announcement
S&J shareholders are accordingly advised to continue exercising caution in
dealing in their shares on the JSE Securities Exchange South Africa until such
time as a further announcement is made.
Bryanston
21 May 2003
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
Date: 21/05/2003 12:03:14 PM Supplied by www.sharenet.co.za
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