MILLIONAIR CHARTER LIMITED -
MILLIONAIR CHARTER LIMITED
(Registration number 1993/000092/06)
Incorporated in the Republic of South Africa
("Millionair" or "the Company")
Share Code: MLL ISIN Number: ZAE000017810
CHANGE OF CONTROL AND FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement incorporated in the
interim reviewed results announcement made on SENS on 20 October 2003 and in the
press on 21 October 2003.
Shareholders are advised that the controlling shareholder of Millionair, King
Air Services, has signed an agreement to dispose of its entire shareholding in
and claims against the Company ("the claims") for R5 194 572, equivalent to a
maximum of 6 cents per share (assuming no value is attributed to the claims) to
Global Air Cargo Pty Ltd, an Australian registered company ("Global Air") ("the
sale").
The sale is conditional upon inter alia,:
- Millionair and Global Air concluding an agreement whereby the Company will
purchase an aircraft from Global Air payable in Millionair shares ("the
acquisition"); and
- The Securities Regulation Panel ("SRP") agreeing to a waiver of a mandatory
offer to minorities (in terms of Rule 8.7 of the SRP Code on Takeovers and
Mergers ("the Code") which will be required as a consequence of the sale and
acquisition being classified as an affected transaction in terms of the Code.
The acquisition will constitute a category one transaction in terms of the
Listings Requirements of the JSE Securities Exchange South Africa. As the
purchase price of the acquisition has not yet been finalised and an agreement in
regard thereto not yet signed, shareholders are advised to continue to exercise
caution when dealing in their Millionair shares until a more detailed
announcement is made.
Sponsor to Millionair Attorneys to Global Air
SASFIN CORPORATE FINANCE READ HOPE PHILLIPS ATTORNEYS
A DIVISION OF SASFIN BANK
LIMITED
Date: 23/10/2003 04:01:02 PM Supplied by www.sharenet.co.za
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