BEIGE HOLDINGS LIMITED - TRANSFER OF LISTING TO THE ALTERNATIVE EXCHANGE
Beige Holdings Limited
("Beige")
(Incorporated in the Republic of South Africa)
Registration number - 1991/006871/06
Share code: BEG ISIN: ZAE 000034161
TRANSFER OF LISTING TO THE ALTERNATIVE EXCHANGE ("AltX")
The directors are pleased to announce that the JSE Securities Exchange South
Africa has formally approved the transfer of the company"s listing to AltX. The
company"s securities will commence trading on AltX from commencement of business
on 29 January 2004. Shareholders are advised that the company"s share
certificates are currently endorsed in terms of the JSE Listings Requirements
for companies listed on the Venture Capital Market, whereas no endorsement is
required for AltX. Share certificates which are endorsed as being listed on the
Venture Capital Market will still be accepted for dematerialisation and are
still valid share certificates representing registration as a shareholder.
In accordance with the JSE Listings Requirements the following wording is
included in this announcement:
"In accordance with AltX Listings Requirements, shareholders are advised of the
risks of investing in a company listed on the AltX. Shareholders are advised
that the JSE does not guarantee the viability or the success of a company
listing on AltX. In terms of JSE Listings Requirements a Designated Adviser has
to be retained by the company. The Designated Adviser is required to, inter
alia, attend all board meetings held by the company to ensure that all JSE
Listings Requirements and applicable regulations are complied with, approve the
financial director of the company and guide the company in a competent,
professional and impartial manner. If the company fails to retain a Designated
Adviser it must make arrangement to appoint a new Designated Adviser within 10
business days, failing which the company faces suspension of trading of its
securities. If a Designated Adviser is not appointed within 30 days of its
suspension the company faces the termination of its listing without an offer to
minorities."
Shareholders are advised that in order to be admitted to AltX, inter alia, the
company has to first present to, and be approved for listing by, the AltX
Advisory Committee. It is also emphasised that Beige will continue to maintain
high Corporate Governance standards. Beige believes that the company, and its
shareholders, will be better suited to AltX based on the benefits that AltX
presents, such as publishing of electronic information on its website to
shareholders, lower transaction costs and associated cost savings.
Johannesburg
28 January 2004
Designated Adviser
Arcay Group Limited
Date: 28/01/2004 03:42:04 PM Supplied by www.sharenet.co.za
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