Metro - Announcement in respect of the proposed di
Metro - Announcement in respect of the proposed disposal of Metro`s African
operations and management changes
METRO CASH AND CARRY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/021315/06)
Share code: MTC ISIN number: ZAE000012688
(`Metro`)
Announcement in respect of the proposed disposal of Metro`s African operations
and management changes
Disposal
Further to the announcement of 20 August 2004, shareholders are advised that -
- the funding arrangements for the disposal have been finalised;
- the circular to shareholders will be issued today;
- the general meeting of shareholders to approve the proposed disposal will
be held at 10h00 on Wednesday, 29 September 2004;
- the results of the general meeting will be announced on SENS on Wednesday,
29 September 2004 and in the press on Thursday, 30 September 2004.
Management
As a result of divergent views as to the future strategic direction and
management of Metcash Trading Africa Limited (`Metaf`), with immediate effect -
- Hilton Mer has resigned as a director of Metro and its subsidiary
companies;
- Carlos dos Santos will assume the position as chief executive of Metaf.
Johannesburg
13 September 2004
Sponsor
Sasfin Corporate Finance
A division of Sasfin Bank Limited
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