Labat Africa Limited - Further cautionary announcement
LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
Share Code: LAB ISIN: ZAE000018354
(`LABAT`)
Further cautionary announcement
Shareholders are referred to the further cautionary announcement dated 20 August
2004 where they were advised that Labat is considering a rights offer and
possible disposal of its retail interests (`Proposed Retail Disposal`).
Subsequently, the Board of directors of Labat (`the Board`) have been
considering various restructuring alternatives in respect of the Labat group,
which will lead to the Disposal of the Retail business. However, in light of
the alternatives which may result in the disposal of certain other non core
Labat group assets, the Board believes that it is no longer appropriate to
proceed with a rights offer at this time.
Accordingly, until further details of the Proposed Retail Disposal and/or the
other restructuring alternatives are announced, shareholders are advised to
continue to exercise caution in dealing with their securities on the JSE
Securities Exchange South Africa.
Johannesburg
18 October 2004
Corporate advisor and transaction sponsor
Brait
Date: 18/10/2004 05:15:01 PM
Produced by the JSE SENS Department
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