Moribo Leisure Limited - An offer to the shareholders of Moribo to acquire their
shares
DNR CAPITAL
a division of DNR Corporate Advisors (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/028938/07)
MORIBO LEISURE LIMITED (`Moribo`)
JSE Share Code: MRB
ISIN: ZAE000014023
Moribo shareholders are referred to the announcement published by Moribo on 7
September 2004, relating to a firm intention by DNR Capital (a division of DNR
Corporate Advisors (Proprietary) Limited) (`DNR Capital`) or its nominee to make
an offer to the shareholders of Moribo to acquire their shares in Moribo for a
cash consideration of 13 cents per share (`the offer`).
The conditions to the offer included:
1. DNR Capital being satisfied with the results of a legal due diligence and
financial due diligence (`the due diligence`)by 10 September 2004; and
2. the offer being accepted in respect of not less than 51% of the issued share
capital of Moribo (or such lower percentage as DNR Capital may decide is
acceptable).
DNR Capital wishes to advise Moribo shareholders that:
1. on 10 September 2004 it advised the board of directors of Moribo that it was
satisfied with the results of the due diligence; and
2. to date DNR Capital has received irrevocable undertakings to accept the offer
from shareholders holding just over 48% of the issued shares in Moribo. DNR
Capital is confident that the offer will be accepted in respect of more than 51%
of the issued share capital of Moribo.
As previously announced, an offer document containing full details of the offer
will be posted to Moribo shareholders within the time periods required by the
Securities Regulation Panel.
Johannesburg
20 September 2004
Corporate advisor to the offeror
Java Capital (Pty) Limited
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
