ELLERINE HOLDINGS LIMITED/RELYANT RETAIL LIMITED - PROGRESS UPDATE ON
COMPETITION PROCEEDINGS
ELLERINE HOLDINGS LIMITED RELYANT RETAIL LIMITED
(Incorporated in the Republic
of South Africa) (Incorporated in the
Republic of South Africa
(Registration number 1968/013402/06) (Registration number
1937/010108/06)
Share Code: ELH Share Code: RLY
ISIN:ZAE000022752 ISIN:ZAE000016457
(`Ellerines`) (`Relyant`)
PROGRESS UPDATE ON COMPETITION PROCEEDINGS
Shareholders are referred to the various earlier Ellerines and Relyant joint
announcements with regard to the proposed offer by Ellerines to the
shareholders of Relyant to acquire their shares in Relyant (the `Proposed
Transaction`) and the extension to 4 January 2005 requested by the Competition
Commission. The boards of Ellerines and Relyant wish to inform shareholders
that the Competition Commission has requested a further extension to 25 January
2005 to investigate the Proposed Transaction and make a recommendation to the
Competition Tribunal. Notwithstanding such extension, it is anticipated that the
overall timetable for implementing the Proposed Transaction will not be
affected.
Further announcements in respect of the Proposed Transaction will be published
in due course. Until publication of such further announcements, shareholders of
Ellerines and Relyant are advised to continue to exercise caution when dealing
in the securities of the respective companies.
Johannesburg
11 January 2005
Financial advisor to Ellerines Legal advisor to Ellerines Sponsor to Ellerines
Andisa CapitalÙ Cliffe DekkerÙ Nedbank CapitalÙ
Independent advisor to Relyant Legal advisor to Relyant Sponsor to Relyant
Java Capital Ù Sonnenberg Hoffman GalombikÙ Investec Bank LimitedÙ
Independent transaction advisor
Morgan StanleyÙ
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
