ERM
Enterprise Risk Management Limited - Fulfilment Of Suspensive Conditions
ENTERPRISE RISK MANAGEMENT LIMITED
(incorporated in the Republic of South Africa)
(registration number : 1995/001603/06
(JSE Code: ERM ISIN Code: ZAE000037701)
("the company")
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FULFILMENT OF SUSPENSIVE CONDITIONS
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1. Shareholders are referred to the written sale of business agreement ("sale
agreement") concluded between the company, Newshelf 716 (Proprietary)
Limited ("Newshelf") and J&J Financial Services (Proprietary) Limited on 13
June 2003 and to the circular posted to shareholders on 8 August 2003.
2. All of the suspensive conditions to the sale agreement ("conditions") have
been fulfilled save for the condition which required the company to obtain
the written consent of certain counterparties to certain of the agreements
to which the company is a party, for the transfer of such agreements to
Newshelf. One of the counterparties to one of the aforesaid agreements has
refused to furnish its consent. Consequently, the company has waived
compliance with that condition in relation to that agreement, in accordance
with the provisions of the sale agreement.
3. As a consequence of the waiver referred to in 0, the purchase price payable
by Newshelf to the company in terms of the sale agreement will be reduced by
R489 002.34, in accordance with the provisions of the sale agreement. The
amendment in the purchase price will not have a material effect on the
earnings and net asset value per share of the company.
Randburg
18 August 2003
Sponsor Attorneys Reporting
Accountants
Exchange Sponsors Werksmans Inc Ernst & Young
Date: 18/08/2003 05:14:05 PM Produced by the JSE SENS Department
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