REAL AFRICA HOLDINGS LIMITED - DISPOSAL BY REAL AFRICA HOLDINGS
OF ITS ENTIRE SHAREHOLDING IN OCFISH HOLDING LIMITED COMPANY
REAL AFRICA HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1994/003919/06)
Share Code: RAH
ISIN: ZAE000008702
(`RAH`)
DISPOSAL BY RAH OF ITS ENTIRE SHAREHOLDING IN OCFISH HOLDING
COMPANY LIMITED (`OCFISH`)
Shareholders are referred to RAH`s announcement published on SENS
on 23 August 2004, in which it was announced that RAH had
conditionally disposed of its entire shareholding in Ocfish to
Business Venture Investments Number 861 (Proprietary) Limited
(`the BEE Consortium`) (`the disposal`).
A further announcement was published on 27 September 2004, in
which it was announced that the board of directors of RAH (`the
board`) had agreed to extend to no later than 29 October 2004,
the time, within which the condition precedent had to be
fulfilled,, relating to the delivery by the BEE Consortium of a
written unconditional confirmation from its funder that it was
prepared directly or indirectly to provide the funding required
to implement the disposal, together with written confirmation
from the BEE Consortium and any other party that may participate
in such funding arrangements that they are satisfied with the
terms and conditions of such funding arrangements.
The board has been formally informed by the BEE Consortium that
the condition precedent referred to above will not be fulfilled.
Accordingly, RAH shareholders are advised that the disposal
agreement entered into between RAH and the BEE Consortium in
respect of the disposal, will not come into force and accordingly
the disposal will not be implemented.
RAH will continue in its efforts to sell its interest in Ocfish
to black economic empowerment groups that are able to fund the
purchase consideration and to explore all avenues to unlock value
in Ocfish for its shareholders.
Bryanston
26 October 2004
Investment Bank and Transactional Sponsor
Standard Bank Corporate and Investment Banking
(Registration number: 1962/000738/06)
(A division of the Standard Bank of South Africa Limited)
Corporate law advisers and consultants to RAH
Edward Nathan & Friedland (Proprietary) Limited
(Registration number: 1999/026464/07)
Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)
(Registration number: 1966/010753/06)
Date: 26/10/2004 02:45:04 PM
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