Kolosus - FURTHER CAUTIONARY ANNOUNCEMENT AND UPDA
Kolosus Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1978/000181/06)
Share code: KOS ISIN: ZAE000008504
("Kolosus" or "the Company")
FURTHER CAUTIONARY ANNOUNCEMENT AND UPDATE
Further to the announcements of 8 April 2003 and 9 April 2003, relating
respectively to the disposal by Kolosus of its 50% shareholding in De Aar
Abattoirs (Pty) Ltd to GWK Limited ("GWK disposal") and to the Daun & Cie.
Aktiengesellenschaft ("Daun") acquisition of Senwes Limited"s shareholding in
Kolosus ("Daun acquisition") as well as the ongoing Seton Company USA matter
("Seton claim"), shareholders are updated as follows:
GWK disposal
All the conditions precedent referred to in the announcement of 8 April 2003
have been fulfilled.
Daun acquisition
As advised in the announcement of 9 April 2003, a condition precedent to the
Daun acquisition was that the necessary approval of the Competition Authority be
obtained. On 5 May 2003 the Competition Commission referred the Daun acquisition
to the Competition Tribunal recommending unconditional approval. The Competition
Tribunal hearing is scheduled to take place during July 2003. The final approval
of the Competition Authority remains outstanding.
Seton claim
Settlement of the Seton claim remains subject to various conditions outstanding.
Shareholders will be appraised of progress in this regard as appropriate.
Cautionary
Due to the various unresolved matters referred to above, shareholders are
advised to continue to exercise caution when dealing in the Company"s securities
pending further announcement.
Pretoria
26 May 2003
Corporate adviser and Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 26/05/2003 11:50:23 AM Supplied by www.sharenet.co.za
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