UPDATE TO SHAREHOLDERS ON THE RESOLUTION OF JOHNNI
JOHNNIC HOLDINGS LIMITED - UPDATE TO SHAREHOLDERS ON THE RESOLUTION OF JOHNNIC`S
PYRAMID STRUCTURES
Johnnic Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1889/000429/06)
JSE Share code: JNC
ISIN: ZAE000024352
(`Johnnic` or `the Company`)
UPDATE TO SHAREHOLDERS ON THE RESOLUTION OF JOHNNIC`S PYRAMID STRUCTURE
Johnnic wishes to announce that it has been in discussion with the JSE
Securities Exchange South Africa (`the JSE`) regarding the extension of time to
23 June 2004 granted to the Company to address its pyramid structure with
Johnnic Communications Limited.
Johnnic has shared with the JSE its effort at finalising its strategic options,
including the implementation of additional empowerment in its shareholding.
Johnnic recognises that empowerment and creating value for its shareholders are
of the utmost importance. Accordingly, the Company is in continued discussions
with the JSE in finalising this matter.
A further announcement to shareholders will be made in due course.
Johannesburg
22 June 2004
Investment Bank and Transactional Sponsor
Standard Bank
(A division of the Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)
Legal Adviser
Webber Wentzel Bowens
Tax Adviser
Deloitte
Sponsor
Merrill Lynch South Africa (Proprietary) Limited
(Registration number 1995/001805/07)
Date: 22/06/2004 05:55:02 PM Produced by the JSE SENS Department
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