Shareholders are referred to the announcement dated 31 Dec 03 regarding the put and call option agreement entered into with SACTWU regarding the 16 0770 142 Seardel "N" shares currently held by a wholly owned subsidiary of HCI. SACTWU has a call option to purchase from HCI and HCI shall have a put option to sell to SACTWU the Seardel shares.
Subject to approval by the JSE a circular containing full details of the disposal will be posted to HCI shareholders in due course. The circular will also include a notice convening a general meeting for HCI shareholders to consider and, if deemed appropriate, pass the resolutions necessary to give effect to the put and call option agreement.
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