ELB GROUP LIMITED - DISPOSAL OF ELB MCWADE ELECTRICAL BECOMES UNCONDITIONAL
ELB GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1930/002553/06
Share code: ELR
ISIN: ZAE000035101
(`ELB`)
DISPOSAL OF ELB MCWADE ELECTRICAL BECOMES UNCONDITIONAL
Further to the announcement dated 29 September 2004, Andisa Capital is
authorised to announce that the disposal by ELB of its interest in ELB McWade
Electrical (Proprietary) Limited to Wellspan Investments (Proprietary) Limited
(`Wellspan`) has become unconditional. The condition precedent that was
outstanding was in regard to the formal granting of a loan by The Standard Bank
of South Africa Limited to Wellspan for the cash consideration of R30 million.
Sandton
1 November 2004
Financial adviser: Andisa Capital
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) CORPORATE
FINANCE
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