REVISED PROPOSAL BY THE BIDVEST GROUP LIMITED ("BI
MCCARTHY LIMITED - REVISED PROPOSAL BY THE BIDVEST GROUP LIMITED ("BIDVEST") TO
ACQUIRE MCCARTHY ORDINARY SHARES AT A PRICE OF 36 CENTS PER
ORDINARY SHARE AND FURTHER CAUTIONARY ANNOUNCEMENT
MCCARTHY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1991/003245/06)
("McCarthy" or "the company")
Ordinary shares - JSE code: MCC
ISIN: ZAE000034823
Preference shares - JSE code: MCCP
ISIN: ZAE000034831
REVISED PROPOSAL BY THE BIDVEST GROUP LIMITED ("BIDVEST") TO ACQUIRE MCCARTHY
ORDINARY SHARES AT A PRICE OF 36 CENTS PER ORDINARY SHARE AND FURTHER CAUTIONARY
ANNOUNCEMENT
McCarthy ordinary shareholders are referred to the Bidvest announcement released
today regarding, inter alia, the fact that Bidvest intends, subject to the
fulfilment of certain conditions precedent, to submit to the McCarthy Board of
Directors ("the Board") a firm intention to make an offer to acquire McCarthy
ordinary shares at a price of 36 cents per ordinary share. The Bidvest
announcement is specific to McCarthy ordinary shareholders and does not refer to
McCarthy preference shareholders.
The Board will respond to the firm intention to make an offer letter upon
receipt thereof. As the Board has not yet received such firm intention to make
an offer from Bidvest, McCarthy ordinary and preference shareholders are advised
to continue exercising caution when dealing in the company"s securities until a
further announcement is made.
Durban
19 December 2003
Independent financial advisor and transaction sponsor:
Nedbank Corporate
Sponsor:
Rand Merchant Bank
(A division of FirstRand Bank Limited)
Legal adviser to McCarthy:
Cox Yeats
Date: 19/12/2003 03:52:02 PM Supplied by www.sharenet.co.za
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