ANNOUNCEMENT REGARDING THE EXERCISE OF AN OPTION T
MATHOMO GROUP LIMITED - JOINT ANNOUNCEMENT REGARDING THE EXERCISE OF AN OPTION
TO ACQUIRE SHARES IN MATHOMO BY MIC, MANDATORY OFFER AND FURTHER CAUTIONARY
ANNOUNCEMENT
MATHOMO GROUP LIMITED
(Registration Number. 1995/004783/06)
Share Code: MTO
ISIN Code: ZAE000037214
(`Mathomo` or `the company`)
MINEWORKERS INVESTMENT COMPANY (PTY) LIMITED
(Registration Number. 1994/009420/07)
(`MIC`)
JOINT ANNOUNCEMENT REGARDING THE EXERCISE OF AN OPTION TO ACQUIRE SHARES IN
MATHOMO BY MIC, MANDATORY OFFER AND FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the various cautionary announcements published in
which they were informed that MIC was considering exercising an option, granted
by Standard Bank of South Africa Limited (`the option`), to acquire an
additional 7 128 779 shares in the issued share capital of Mathomo, which would
result in the MIC Group holding 50,01% of the entire issued share capital of
Mathomo. MIC currently holds 16 465 546 shares representing 34,9% of the issued
share capital of Mathomo.
On 1 June 2004 Mathomo received notice that MIC had exercised its option on that
day, in full, at a price of 68.01 cents per Mathomo share.
The exercise of the option constitutes an affected transaction under the
Securities Regulation Code on Takeovers and Mergers (`the Code`) and MIC shall
make a mandatory offer in terms of the Code (`the offer`) to all the remaining
shareholders of Mathomo at a price of 68.01 cents per Mathomo share, payable in
cash.
Pursuant to the exercise of the option, shareholders of Mathomo other than MIC,
hold 49,99 % of the issued share capital of the company, in the aggregate. Of
these remaining shareholders, irrevocable undertakings from shareholders
representing 31,63% of Mathomo shares have been received indicating they will
not accept the offer.
Standard Bank of South Africa Limited has confirmed that the resources are
available to satisfy full acceptance of the offer by the remaining shareholders
of Mathomo.
Accordingly shareholders are reminded to continue exercising caution in their
dealings in Mathomo shares until such time as further announcements have been
made.
2 June 2004
Sponsor
Java Capital
Attorneys
M J King Inc.
Date: 02/06/2004 05:33:02 PM
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