LYONS FINANCIAL SOLUTIONS HOLDINGS LIMITED - ANNOUNCEMENT AND CAUTIONARY
ANNOUNCEMENT
LYONS FINANCIAL SOLUTIONS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/022117/06)
Share code: LYS ISIN: ZAE000024709
("Lyons" or "the company")
ANNOUNCEMENT AND CAUTIONARY ANNOUNCEMENT
Shareholders are advised that Lyons was due, in terms of the Listings
Requirements of the JSE Securities Exchange South Africa ("JSE"), to publish its
interim results for the 6 months ended 30 November 2003 on or before 14 March
2004.
The company was recently the target of a Section 440K of the Companies Act, 1973
(Act 61 of 1973) offer to minorities by controlling shareholder Icarus Nominees
(Proprietary) Limited (trading as Icarus Investment Corporation). As stated in
the release of the final results for the 12 months ended 31 May 2003 ("final
results"), the company"s auditors qualified these results based on the going
concern principle and the material uncertainty as to the outcome of the
restructuring and capitalisation program initiated by the controlling
shareholders.
As a result of this qualification, the JSE requires a full review to be
conducted before the publication of the interim results for the six months ended
30 November 2003 which has caused a delay in the publishing of these interim
results. It is expected that these results will be completed, reviewed and
published on or before 31 March 2004.
Cautionary announcement
Shareholders are advised that Lyons has entered into negotiations, which if
successfully concluded may have an effect on the price of the company"s
securities.
Accordingly, shareholders are advised to exercise caution when dealing in the
company"s securities until a further announcement is made.
Sandton
17 March 2004
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Registration number 1996/000034/07)
Date: 17/03/2004 03:41:35 PM Produced by the JSE SENS Department
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