| Tue 20 Apr 2004, 17:27 | | Announcement |
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Jd Group Limited - Announcement
Release Date: 20/04/2004 17:12:37 Code(s): JDG
JD GROUP LIMITED - ANNOUNCEMENT
Not to be distributed into the United States, Canada or Japan
JD GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1981/009108/06)
JSE code: JDG; NSX code: JDL
ISIN: ZAE000030771
("JD Group" or "the Company")
Potential Sale of Stake in JD Group
A consortium led by Daun & Cie AG ("the Daun Consortium"), currently holding
16.7% of the shares in JD Group, has decided to realise its entire investment,
thus removing any perceived overhang as a result of this shareholding. The
transaction will be implemented by way of a bookbuilding exercise led by
Citigroup, commencing today and expected to close on or before the close of
business on 21 April 2004.
Commenting on the transaction, Claas Daun, the Chairman of Daun & Cie AG, said,
"Our JD Group shares were initially obtained as part of the acquisition by JD
Group of Profurn Limited in 2003. At the time of the transaction, we agreed to
remain invested in JD Group for the medium-term in order to demonstrate support
for the transaction and share in its benefits. As the transaction has now been
implemented successfully, we have decided to monetise our investment and to
deploy the proceeds elsewhere in our investment portfolios. We are proud to
have been associated with a superb company, led by an outstanding management
team who have consistently delivered strong and sustained growth and developed a
successful business strategy. We wish to thank the board, management and
employees of JD Group for their efforts and performance and wish the Company and
all its shareholders every success in the future."
JD Group"s Executive Chairman, David Sussman, commented, "While we respect the
Daun Consortium"s decision and will miss the relationship at shareholder level,
this represents a sought after opportunity to improve the free float and
liquidity of JD Group shares, as well as to continue to diversify the
shareholder profile of the group both domestically and internationally. We look
forward to welcoming our new shareholders on board."
This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America (including its territories
and possessions, any state of the United States and the District of Columbia).
This announcement is not an offer of securities for sale into the United States.
The securities referred to herein have not been and will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or sold in
the United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.
Johannesburg
20 April 2004
Transactional Sponsor:
Citigroup
