Trading Update And Further Cautionary Announcement
NAIL - Trading Update And Further Cautionary Announcement
NEW AFRICA INVESTMENTS LIMITED
(Registration number 1993/002467/06)
Share codes: NAI and NAN
ISIN: ZAE00033338 and ZAE00033346
("NAIL" or "the Company")
TRADING UPDATE AND FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the earnings for the six months ended 30 June
2003, which have not been reviewed and reported on by the Company"s auditors,
will be substantially higher ("substantially" being an increase greater than
30%, as defined in the revised JSE Securities Exchange South Africa ("the JSE")
Listings Requirements) than those reported in the comparative six month period
in the prior year.
Further, shareholders are advised that the bidding process, which was more fully
described in recent formal Company press announcements, is progressing as
contemplated and discussions are currently in progress with the view of
receiving a firm intention offer.
In light of this trading update not having been reviewed and reported on, the
continuing progression of the bidding process and (as previously announced on 24
July 2003) the announcement concerning the receipt of a firm intention to make
an offer from a consortium comprising Investec Bank Limited, TISO Private Equity
Fund, Safika Holdings (Proprietary) Limited and Mineworkers Investment Company
(Proprietary) Limited, shareholders are advised to continue to exercise caution
when dealing in NAIL shares on the JSE.
Johannesburg
10 September 2003
Sponsor: PricewaterhouseCoopers Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Date: 10/09/2003 01:39:54 PM Supplied by www.sharenet.co.za
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