Aludie Limited - Change Of Control And Cautionary Announcement
ALUDIE LIMITED
Incorporated in the Republic of South Africa
(Registration number 1982/009023/06)
Share code: ALD ISIN: ZAE000008876
(`Aludie` or `the Company`)
CHANGE OF CONTROL AND CAUTIONARY ANNOUNCEMENT
Merchant Sponsors is authorised to announce that, further to the announcement
made on 11 June 2004, O2 Capital (Proprietary) Limited has acquired in total 14
502 875 shares of Aludie from Command Limited, being 43,6% of Aludie`s issued
ordinary share capital. This constitutes an affected transaction in terms of the
Securities Regulation Panel Code on Takeovers and Mergers. However the
Securities Regulation Panel has agreed to waive the requirement for a mandatory
offer to be made to the minority shareholders of the Company, on the basis of
the de minimus principle, in that the offer to shareholders is considered too
small to be meaningful.
Shareholders in Aludie are also advised that the Board of Directors of Aludie is
currently considering various options for the recapitalisation of Aludie and its
subsidiaries, including the possible implementation of a scheme of arrangement
in Aludi Technologies (Proprietary) Limited. A notice in respect of which has
been published. Accordingly, shareholders are advised to exercise caution when
trading in shares of Aludie on the JSE Securities Exchange South Africa until a
full announcement is made.
Johannesburg
3 September 2004
Sponsor
Merchant Sponsors (Proprietary) Limited
Attorneys to O2 Capital (Proprietary) Limited
Read Hope Phillips Attorneys
Date: 03/09/2004 04:07:07 PM Produced by the JSE SENS Department
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