Uniserv - Pricing of the UTi Worldwide Inc. public offering and further
cautionary announcement
UNITED SERVICE TECHNOLOGIES LIMITED(Incorporated in the British Virgin Islands)
(International Business Company number 3896)
Share code: USV
ISIN ZAE000012431(`Uniserv`)
PRICING OF THE UTi WORLDWIDE INC. PUBLIC OFFERING AND FURTHER CAUTIONARY
ANNOUNCEMENT
1. Closing of the Public OfferingFurther to the announcement on SENS on Wednesday, 15 December 2004 of the
results of the meeting of Uniserv Shareholders held on Wednesday, 15 December
2004, Uniserv Shareholders are informed that the Funders as described in the
circular posted to Uniserv Shareholders on Tuesday, 23 November 2004 (the`Circular`) have determined an initial price to public in a public offering of
5,743,000 UTi Worldwide Inc. (`UTi`) shares. The closing of the public offering
is subject to closing conditions.
Applying the Formula (as described in the Circular) to the initial price topublic of US$65.00, results in US$9.93 per Uniserv Share.
2. Further cautionary announcement
Upon written notification by the Funders to Uniserv given on or prior to 16:00
(New York time) on Friday, 28 January 2005, that the Funders` Entitlement (asdescribed in the Circular) is exercised, then, (as described in the Circular):
* Uniserv will not pay the Merger Consideration to Merger Participants; and
* the Merger Shares will not be cancelled,
and the provisions of the Plan of Merger (as described in the Circular) relatingto the foregoing shall fall away and be of no further force or effect and the
Merger Participants shall retain their Merger Shares, with the JSE Securities
Exchange SA lifting the suspension of the listing of the Merger Shares at the
commencement of business on the following Business Day, as described in theCircular.
Uniserv Shareholders are therefore required to exercise caution when dealing in
their Uniserv Shares until a further announcement is made regarding the exercise
or non-exercise of the Resolutive Condition.3. Disclaimer
The news release shall not constitute an offer to sell or the solicitation of
any offer to buy, nor shall there be any sale of the UTi shares in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful priorto the registration or qualification under the securities laws of any such state
or jurisdiction.
Luxembourg
17 December 2005Corporate Advisor and Transactional Sponsor
Nedbank Capital
Independent Financial Advisor
ABSASouth African Attorneys
WEBBER WENTZEL BOWENS
Reporting Accountants and Auditors
Deloitte & ToucheBVI Attorneys
HarneyDate: 17/12/2004 09:00:26 AM Produced by the JSE SENS Department
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