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(formerly E-Data Holdings Limited)
(Incorporated in the Republic of
South Africa)
(Registration number 1998/013215/06:
JSE Code JDH: ISIN ZAE000044343)
("the company" or "JDH")
AGREEMENT REACHED WITH UBUHLANTI
(PTY) LTD
AND NEW CAUTIONARY ANNOUNCEMENT
Further to the Further Cautionary
Announcement dated 21 May 2003, LPC
Manhattan Sponsors (Pty) Ltd have
been authorised to make the following
announcement.
Black Economic Empowerment of the
Group
Shareholders were advised in the
revised listing particulars statement
dated 20 December 2002 that the
Company was actively seeking to
appoint further non-executive
Directors. Shareholders were also
advised of the company"s official
policy to implement affirmative
action policies at all levels up to
Board level. Ownership decision-
making and control of the
organisation must ultimately be
representative of all population
groups.
Agreement with Ubuhlanti (Pty) Ltd
An agreement ("the agreement") has
been reached with an empowerment
investment vehicle, Ubuhlanti (Pty)
Ltd ("Ubuhlanti") in terms of which
Ubuhlanti will nominate two non-
executive Directors to the Board of
JDH. The nominations of Messrs S
Tshiki and T Mvusi have been
accepted. The rationale is for these
Directors to actively promote Black
Economic Empowerment within the
internal structures of JDH as a group
and to guide the Board in matters
relating to Black Economic
Empowerment and ownership.
It is a condition of the agreement
that one of the newly appointed
Directors will actively promote sales
of the company"s products to
corporate clients in the context of
adding measurable value to JDH and
its shareholders while the other will
guide the Board in matters relating
to corporate governance and
transformation in the interests of
shareholders. Over a period of no
less than one year, both parties will
assess the progress being made by the
company and towards meaningful black
economic empowerment.
During this period it is the stated
intention of Ubuhlanti to assess JDH
and its future in the South African
transportation environment. Based on
this assessment and assuming the
successful transformation of the
Company, it is the intention of
Ubuhlanti to purchase a meaningful
stake in the share capital of JDH,
which will render ownership of JDH
more fully representative of the
racial and gender composition of
South Africa.
New Cautionary announcement
Shareholders are advised that the
Company is currently engaged in
negotiations for the acquisition of a
majority stake in a business which
has been granted the exclusive
worldwide rights to manufacture and
market a specific product developed
over a period of five years by a
leading South African University. If
successfully concluded, this
transaction will result in the
incorporation of a further
operational subsidiary of JDH. As
the successful conclusion of these
negotiations may have a significant
effect on the price at which the
company"s shares trade, shareholders
are advised to exercise caution when
dealing in the company"s shares until
a further announcement can be made.
By order of the Board
July 2003
Mossel Bay
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
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