Tourvest offer to Sure lapses
Tourism Investment Corporation Limited
Registration number : 1996/008144/06
Share code : TRT
ISIN: ZAE000012472
TOURVEST OFFER TO SURE LAPSES
Johannesburg, 17 August 2004 - Tourvest announced today that its conditional
offer to acquire Sure Holdings had lapsed as certain conditions precedent to the
deal have not been fulfilled.
The company said it had informed the board of Sure that the condition that a
legal and financial due diligence satisfactory to Tourvest should be completed
had not been fulfilled. It noted that Sure did not agree that this condition
had not been fulfilled and was reserving its rights.
`While we are naturally disappointed at the negative outcome of this
transaction, Tourvest remains an acquisitive business and we are examining other
opportunities for expanding our travel retail operations in line with our
objective of being the dominant tourism player in sub-Saharan Africa,` Tourvest
chief executive Tommy Edmond said.
Tourvest is due to announce its results for the year to 25 June on 19 August
2004.
For further information call
Tommy Edmond, CEO on 011-339-6044
Issued by du Plessis Associates on behalf of Tourvest.
dPA contact Kathy du Plessis Tel : +27 11 728 4701,
Fax: +27 11 728 2547, Mobile: 083 266 5847 or e-mail: tourvest@dpapr.com
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