Glenrand Mib Limited - Disposal Of Protector Group Holdings (pty) Ltd To A Bee
Release Date: 09/06/2004 14:22:02 Code(s): GMB
GLENRAND MIB LIMITED - DISPOSAL OF PROTECTOR GROUP HOLDINGS (PTY) LTD TO A BEE
CONSORTIUM
Glenrand MIB Limited
(Registration number 1997/0080001/06)
(Incorporated in the Republic of South Africa)
ISIN Number: ZAE000018529
JSE Share Code: GMB
(`Glenrand MIB`)
DISPOSAL OF PROTECTOR GROUP HOLDINGS (PROPRIETARY) LIMITED (`PROTECTOR`) TO A
BEE CONSORTIUM
1. Introduction
Glenrand MIB shareholders are referred to the announcement dated 26
November 2003 whereby they were advised that Glenrand MIB had concluded an
agreement to dispose of its investment in Protector to a black economic
empowerment consortium, TradeWorx (`the disposal`), for a consideration of
R50 million.
2. Fulfilment Of Conditions Precedent
Glenrand MIB shareholders are hereby advised that all conditions precedent
relating to the disposal which included, inter alia, the conclusion of a
binding agreement and regulatory approval, including approval by the
Competition Commission, have been fulfilled.
Johannesburg
9 June 2004
Investment bank and sponsor
Nedbank Capital
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