Tourism Investment Corporation Limited - Announcement to Sure Holdings Limited
and Tourism Investment Corporation Limited shareholders regarding the lapsing of
the conditional offer to Sure
Tourism Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Reg No 1996/008144/06)
Share code: TRT ISIN: ZAE000012472
Announcement to Sure Holdings Limited (Sure) and Tourism Investment Corporation
Limited (Tourvest) shareholders regarding the lapsing of the conditional offer
to Sure.
Shareholders of Sure and Tourvest are referred to the announcement on 23 March
2004 regarding the results of the conditional offer to Sure shareholders whereby
one of the conditions precedent regarding the acceptance of 67% of the Sure
shareholders was fulfilled.
Notwithstanding that the Competitions Authority unconditionally approved the
transaction on Friday 6th August 2004, Tourvest has informed the board of
directors of Sure that certain conditions precedent to which the offer is
subject, namely the completion of a legal and financial due diligence
satisfactory to Tourvest, have not been fulfilled and accordingly the offer has
lapsed. Sure has advised Tourvest that they do not agree that the condition
precedent mentioned above, has not been fulfilled and have reserved their
rights.
Johannesburg
17 August 2004
Sponsor:
Investec Bank Limited
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