Kolosus - Further Cautionary Announcement And Upda
Kolosus - Further Cautionary Announcement And Update
Release Date: 14/07/2003 16:07:00 Code(s): KOS
Kolosus - Further cautionary announcement and update
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 announcement of 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
hereby updated as follows.
Daun acquisition
As advised in the announcement of 8 April 2003, this matter was referred to the
Competition Tribunal by the Competition Commission recommending unconditional
approval. The Competition Tribunal hearing is presently in process with a
ruling expected between the end of July and the middle of August 2003.
Therefore the final approval of the Competition Authority remains outstanding.
As regards the minority shareholding referred to in the announcement of 29
January 2003, the Securities Regulation Panel ("SRP"), on 8 July 2003, ruled
that no offer need be extended by Daun to the minority shareholders of Kolosus.
Seton claim
Settlement of the Seton claim remains subject to various conditions outstanding
inter alia the approval of the Daun acquisition by the Competition Authority.
Shareholders will be appraised of progress in this regard.
Cautionary update
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 announcements.
14 July 2003
Pretoria
Corporate Advisor and Sponsor
PriceWaterhouseCoopers Corporate Finance (Pty) Ltd
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
