Global Village - Acquisition of Properties and Fur
GLOBAL VILLAGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/017632/06)
("Glovil" or "the company")
Share Code: GLL
ISIN: ZAE000015426
ACQUISITION OF PROPERTIES AND FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement published on SENS on 16 July 2003 and in
the press on 17 July 2003, shareholders are advised that Global Village Leisure
Retail (Proprietary) Limited, a wholly-owned subsidiary of the company, has
entered into an agreement to acquire two properties for R11 million ("the
acquisition").
The acquisition is subject to, inter alia, the suspensive condition that the
rezoning of the properties must be successfully completed by 30 September 2003.
Should the rezoning not be completed by this date, a three-month extension will
be allowed by the seller, provided that it can be shown that the rezoning is
probable and imminent.
Should the acquisition become unconditional, the transaction will result in a
category 1 acquisition in terms of the JSE Securities Exchange South Africa
("JSE") Listings Requirements and shareholders will be required to approve the
acquisition in general meeting. Shareholders will be kept informed of the
status of the acquisition.
In view of the above and as the company continues to be in other negotiations
that, if successfully concluded, may have a material effect on the price at
which Glovil shares trade on the JSE, shareholders are advised to continue to
exercise caution when dealing in the company"s securities until a further
announcement is made.
Johannesburg
28 July 2003
Corporate Advisor and Sponsor
SASFIN CORPORATE FINANCE
A DIVISION OF SASFIN BANK LIMITED
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