Moribo/DNR Capital - Offer to Moribo shareholders
MORIBO LEISURE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1919/001318/06)
Share code: MRB ISIN: ZAE000014023
(`Moribo`)
DNR CAPITAL
a division of DNR Corporate Advisors (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/028938/07)
(`the offeror`)
OFFER TO MORIBO SHAREHOLDERS
Shareholders are referred to Moribo`s announcement released on SENS on 8
September 2004 and published in the press on 9 September 2004 giving details of
a firm intention by the offeror to make an offer (`the offer`) to all of the
shareholders of Moribo to acquire all or any part of their shares in Moribo for
a cash consideration of 13 cents per share.
The offer is conditional upon it being accepted in respect of not less than 51%
of the issued share capital of Moribo or such lower percentage as the offeror
may decide is acceptable.
Shareholders are advised that an offer circular has been sent to Moribo
shareholders today, 21 October 2004, and accordingly, that the offer is now
open. The offer will remain open for not less than 21 days from today`s date and
not less than 10 business days after it is announced that the offer has become
unconditional as to acceptances.
The board of directors of Moribo has appointed Fisher Hoffman PKF (Jhb) Inc. to
advise the board on whether the offer is fair and reasonable to Moribo
shareholders. Moribo will send a circular to shareholders setting out the Moribo
board`s view on the offer and containing the independent fair and reasonable
opinion within the time period prescribed by the Securities Regulation Panel.
Johannesburg
21 October 2004
Sponsor to Moribo
ABSA Corporate and Merchant Bank
Corporate Finance
(Registration number 1986/004794/06)
Corporate advisor to the offeror
JAVA CAPITAL
Date: 21/10/2004 05:13:09 PM
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