Johnnic - Renewal of the cautionary announcement
Johnnic Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1889/000429/06)
Share Code: JNC
ISIN: ZAE000024352
(`Johnnic`)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders of Johnnic are referred to the cautionary announcement published on
SENS on 22 September 2004 announcing the appointment of an Independent Committee
`the Independent Committee`) to consider the elimination of the pyramid
structure that exists between Johnnic and Johnnic Communications Limited and the
strengthening of Johnnic`s black economic empowerment profile.
The Independent Committee has received certain proposals in this regard (`the
restructuring proposals`) which it is currently considering and is in the
process of appointing an independent advisor to advise it on the restructuring
proposals. After the Independent Committee has made a decision, a detailed
announcement will be published.
Accordingly, shareholders are advised to continue to exercise caution when
dealing in Johnnic`s securities until the detailed terms of the proposed
restructuring are published.
Midrand
26 October 2004
Investment Bank and Transactional Sponsor
Standard Bank
(A division of the Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)
Legal adviser
Webber Wentzel Bowens
Tax adviser
Deloitte
Sponsor
Merrill Lynch South Africa (Proprietary) Limited
(Registration number 1995/001805/07)
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