Realisation Of Investment In Onelogix Group Limite
Corpcapital Limited - Realisation Of Investment In Onelogix Group Limited
Corpcapital Limited
(Registration No. 1983/011384/06)
Share code: CPA ISIN code: ZAE000034260
("Corpcapital")
REALISATION OF INVESTMENT IN ONELOGIX GROUP LIMITED ("ONELOGIX")
Java Capital is authorised to announce that Corpcapital has agreed to sell back
to Onelogix its entire holding of 83 768 685 shares in Onelogix, for a price of
12 cents per share (plus interest at the prime rate from 1 February 2004 to date
of payment).
There are circumstances, considered unlikely to eventuate, in which a further
payment would become due to Corpcapital by Onelogix.
The sale is subject to the requisite approval by shareholders of Onelogix.
Financial effects
The pro forma financial effects of the sale on the historical loss and
historical headline loss per Corpcapital share set out in the table below have
been prepared for illustrative purposes only, to provide Corpcapital
shareholders with information on how the sale may have impacted on Corpcapital.
Because of their nature, the pro forma financial effects may not give a fair
reflection of the effect of the sale on future earnings.
Before After Change
(cents) (cents) (%)
Loss per share (58,8) (55,2) 6,1
Headline loss per share (25,0) (23,7) 5,2
As the financial effects of the sale on net asset value and net tangible asset
value per Corpcapital share are not significant, they are not shown.
Notes:
Historical loss and headline loss per Corpcapital share as set out in the
"Before" column of the table are based on Corpcapital"s audited results for the
year ended 31 August 2003.
Historical loss per Corpcapital share as set out in the "After" column of the
table is based on the assumption that the sale took effect on 1 September 2002
and that the cash was received on that date. Interest on the proceeds has been
calculated at an average rate of 15% and no tax is payable thereon.
Historical headline loss per Corpcapital share as set out in the "After" column
of the table was undertaken on the same basis as the historical loss
calculation, but excludes the headline earnings adjustments for both Corpcapital
and Onelogix.
Rosebank
12 February 2004
Sponsor and Corporate Advisor
Java Capital (Proprietary) Limited
Date: 12/02/2004 09:01:02 AM Supplied by www.sharenet.co.za
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