MATHOMO GROUP LIMITED - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
MATHOMO GROUP LIMITED
(Registration Number. 1995/004783/06)
Share Code: MTO
ISIN Code: ZAE000037214
("Mathomo" or "the company")
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
A review of the financial results for the year ended 30 September 2003 by
management has indicated that the headline earnings per share of Mathomo will be
substantially higher than the previous financial year. "Substantial" has been
defined in the JSE Securities Exchange South Africa Listing Requirements as
equal to or greater than 30%. The financial results for the year ended 30
September 2003 have not been audited or reviewed by Mathomo"s auditors.
In addition, shareholders are advised that Mineworkers Investment Company (Pty)
Limited ("MIC") is considering exercising an option, granted by Standard Bank of
South Africa Limited ("the option"), to acquire an additional 7 128 779 Mathomo
shares (the "additional shares") at 50 cents per share plus an additional amount
calculated with reference to the prime rate reckoned from 18 April 2002 to the
date of payment of the option price. These additional shares together with the
existing shares held by MIC and its subsidiaries ("the MIC Group") would result
in the MIC Group holding 50.01% of the entire issued share capital of Mathomo.
The option may be exercised at any time prior to 30 April 2004.
MIC will require the prior approval of the Competition Commission for the
exercise of the option and MIC intends to file a merger notice in this regard.
Should MIC exercise the option it would constitute an affected transaction under
the Securities Regulation Code on Takeovers and Mergers ("the code") and a
mandatory offer would have to be made unless a dispensation is sought and
granted in terms of Rule 8.1 of the code.
Accordingly shareholders are advised to exercise caution in their dealings in
Mathomo shares until such time as a further announcement has been made.
Johannesburg
23 October 2003
Sponsor:
Java Capital (Pty) Limited
Attorneys:
M J King Inc.
Date: 23/10/2003 02:09:03 PM Supplied by www.sharenet.co.za
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