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Abc Cash Plus Limited - Transfer Of Listing To The Alternative Exchange ,
Release Date: 04/05/2004 17:36:01 Code(s): APS
ABC CASH PLUS LIMITED - TRANSFER OF LISTING TO THE ALTERNATIVE EXCHANGE ,
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
ABC CASH PLUS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/020520/06)
JSE Share code: APS ISIN: ZAE000017554
("ABC" or "company")
TRANSFER OF LISTING TO THE ALTERNATIVE EXCHANGE (ALTX"), TRADING STATEMENT AND
CAUTIONARY ANNOUNCEMENT
TRANSFER OF LISTING TO ALTX
1.1 Introduction
The directors are pleased to announce that the JSE Securities Exchange South
Africa ("JSE") 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 5 May 2004.
1.2 Share Certificates
Shareholders are advised that the company"s share certificates are currently
endorsed in terms of the Listings Requirements of the JSE ("JSE Listing
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.
1.3 ALTX Listing Requirements
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."
1.4 Benefits of transfer of listing to ALTX
The Company believes that ABC will be better suited to be listed on AltX and
that there are substantial benefits to be listed on AltX including lower listing
fees, lower transaction costs and substantial savings by the publishing of
information in electronic form on its website.
ABC is committed to maintaining good communications with its shareholders and
will continue to maintain high Corporate Governance standards.
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
In terms of the JSE Listings Requirements, a listed company is required to
publish a trading statement as soon as it becomes aware that its financial
results for the next reporting period will be substantially different from those
of the corresponding period of the previous year.
Shareholders are advised that it is anticipated that the earnings and headline
earnings of the Company for the year ended 28 February 2004 are likely to be
substantially higher ("substantially" being an increase greater than 30%, as
defined in the JSE Listings Requirements) than those reported in the
corresponding period of the previous year.
As the forecast has not been reviewed or reported on by the Company"s auditors,
shareholders are advised to exercise caution when dealing in the Company"s
shares on the JSE until the release of the final reviewed results for the year
ended 28 February 2004.
Johannesburg
4 May 2004
Exchange Sponsors
Designated Adviser
Date: 04/05/2004 05:36:05 PM Produced by the JSE SENS Department
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