Realisation By Confed Of Listed Investment Portfol
Realisation by ConFed of listed investment portfolio
Congella Federation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1947/025767/06)
Ordinary shares
Share code: CNF ISIN: ZAE000001624
Preference shares
Share code: CNFP ISIN: ZAE000001632
("ConFed")
Realisation by ConFed of listed investment portfolio
1. Introduction
As background to this announcement ConFed ordinary shareholders and ConFed
preference shareholders are referred to the announcement that appeared on the
Securities Exchange News Service ("SENS") on Tuesday, 29 April 2003 and in the
Press on Wednesday, 30 April 2003 ("the announcement") dealing with the
proposed:
* disposal by ConFed of its property portfolio to Pangbourne Properties Limited
("Pangbourne");
* cash distribution by ConFed in anticipation of a members" voluntary winding-
up;
* suspension and termination of the listing of ConFed; and
* members" voluntary winding-up of ConFed in terms of sections 349 and 350 of
the Companies Act, 1973 (Act 61 of 1973), as amended.
(the "Transaction")
2. The realisation of the listed investment portfolio
Persuant to the announcement, the listed investment portfolio held by ConFed,
comprising of 83 000 shares in Anglo American Plc, was realised through the open
market, in anticipation of the members" voluntary winding-up of ConFed,
realising a net amount after brokerage costs of R8 938 215 ("the realisation of
the listed investment portfolio").
3. Circular to ConFed shareholders
A circular to ConFed shareholders containing full details of the Transaction and
of the realisation of the listed investment portfolio was posted to ConFed
shareholders today.
4. Further cautionary announcement
ConFed shareholders are advised to continue exercising caution until a further
announcement is made containing details of the date of the initial cash
distribution.
Durban
9 June 2003
Investment bank and sponsor to ConFed
Nedbank Corporate
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
