|
MULTIDIRECT INVESTMENTS 180 (PTY) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/020101/07)
("Tiso") (Safika logo)
SAFIKA HOLDINGS (PTY) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/001693/07)
("Safika") (Capricorn logo)
NEWSHELF 730 (PTY) LIMITED,
(TO BE RENAMED CAPRICORN CAPITAL PARTNERS HOLDING
COMPANY (PTY) LIMITED)
(Incorporated in the Republic of South Africa)
(Registration number 2003/014470/07)
("Capricorn") (Investec Bank logo)
INVESTEC BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004763/06)
("Investec") (MIC logo)
MINEWORKERS INVESTMENT COMPANY (PTY) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1994/009420/07)
("MIC")
Acquisition of New Africa Investments Limited ("NAIL")
shares and fulfilment of condition precedent
1. Introduction
NAIL shareholders are referred to the announcement
dated 2 October 2003 relating to the offer ("the offer")
by a consortium comprising Tiso, Safika, Capricorn,
Investec and MIC (collectively, "the Tiso Consortium").
In terms of the offer, the members of the Tiso Consortium
acting individually and severally (and not jointly or
jointly and severally) have offered to acquire all or any
of the NAIL ordinary and all or any of the NAIL "N"
ordinary shares (collectively, "NAIL shares"), held by
each NAIL shareholder (other than Investec and Safika).
The offer was subject to the Tiso Consortium obtaining
not less than 50% of the NAIL "N" ordinary shares in
issue by the closing date of such offer ("the condition
precedent to the offer").
2. Acquisition of NAIL shares and fulfilment of the
condition precedent to the offer
In terms of Rule 7.1 of the Securities Regulation Code
and Rules of the Securities Regulation Panel, NAIL
shareholders are advised that, subsequent to the
abovementioned announcement and the circular to NAIL
shareholders dated 2 October 2003 giving details of the
offer, members of the Tiso Consortium have
acquired a further 43 403 707 NAIL "N"
ordinary shares and a further 1 051 067 NAIL ordinary
shares at a price of 1 050 cents per NAIL share.
Subsequent to these acquisitions, the members of the Tiso
Consortium hold in aggregate 52,1% of the NAIL "N" ordinary
shares and 27,9% of the NAIL ordinary shares in issue.
Accordingly the condition precedent to the offer has
been fulfilled and the offer is unconditional.
Members of the Tiso Consortium still have written
support from a NAIL shareholder representing a further
7,6% of the NAIL "N" ordinary shares undertaking to accept
the offer if there is no higher bid.
3. Further announcement
A further announcement regarding the results of the
offer, will be published on the Securities Exchange News
Service and in the press after the closing date of the
offer which closing date is expected to be on or about
Friday, 24 October 2003.
Sandton
3 October 2003
Investment bank to the Tiso Consortium
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Independent advisor to Safika
AMB Advisory Services Limited
Registration number 1996/016470/06
Legal advisor to the Tiso Consortium
MOSS MORRIS ATTORNEYS
Legal advisor to Safika
DEREK H RABIN & ASSOCIATES (PTY) LIMITED
Registration no- 2002/013811/07
Date: 03/10/2003 05:40:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
| 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
