Allied Technologies Limited - Update on Econet Wireless Global Limited
transaction and cautionary announcement
Allied Technologies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/020415/06)
Share Code: ALT ISIN: ZAE000015251
(`Altech`)
Update on Econet Wireless Global Limited transaction and cautionary announcement
Shareholders are referred to the announcement dated 21 January 2004 stating that
Altech and the shareholders of Econet Wireless Global Limited (`EWG`) were to
establish, subject to conditions precedent, a jointly-controlled South African
holding company to hold certain telecommunication interests of EWG (`the
transaction`).
Altech wishes to advise that certain final terms and conditions relating to the
transaction are still being negotiated with EWG. It is anticipated that a full
terms announcement will be issued to shareholders during the course of next week
(`the terms announcement`).
It has come to the attention of Altech that Econet Wireless Holdings Limited,
which is listed on the Zimbabwe Stock Exchange, has released an announcement
relating to the transaction.
Altech shareholders are advised that the terms announcement will provide the
necessary clarity on the details of the transaction and it is considered
premature to make an announcement prior to finalisation of all the terms and
conditions relating to the transaction.
Shareholders are advised to exercise caution when dealing in their shares until
the terms announcement is released.
Johannesburg
26 August 2004
Sponsor
Cazenove
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