Basil Read Holdings Limited - Further Cautionary Announcement
BASIL READ HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1984/007758/06)
Share code: BSR ISIN: ZAE000029781
(`Basil Read` or `the company`)
FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement dated 11 June 2004, shareholders are
advised that the company, together with its principal shareholders Bouygues
Batiment International, Bouygues Travaux Publics and DTP Terrassement
(collectively `Bouygues`) have entered into exclusive negotiations with a Black
Economic Empowerment consortium led by Mr Mervyn Chavda, and including Mr
Mohseen Moosa, Mr Jomo Sono and Vuya Investments (a broad-based women`s
grouping) (`the consortium`). It is intended, subject to, inter alia, the
finalisation of requisite funding, regulatory approval and shareholder approval,
that the consortium will acquire a majority shareholding in the company (`the
transaction`). Bouygues will remain as a shareholder in the company and
continue to operate in South Africa in its own right in terms of tendering for
and participating in major construction projects.
Shareholders are referred to the company`s trading statement dated 8 June 2004,
and should consider this announcement in conjunction with the trading statement.
The transaction, if successfully concluded, may have a material effect on the
price of the company`s shares. Shareholders are therefore advised to continue
to exercise caution when dealing in Basil Read shares until a further
announcement is made.
Johannesburg
5 August 2004
Sponsor: Bridge Capital Services (Pty) Limited
Date: 05/08/2004 05:22:02 PM Produced by the JSE SENS Department
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