M CUBED - COMPETITION AUTHORITY APPROVAL: MERGER OF THE MULTI-MANAGEMENT
OPERATIONS OF M CUBED AND MOMENTUM INTERNATIONAL MULTI-MANAGERS (PROPRIETARY)
LIMITED
m CUBED HOLDINGS LIMITED
Registration number: 1998/014568/06
Share code: MCU
ISIN: ZAE000033353
(`m Cubed`)
COMPETITION AUTHORITY APPROVAL: MERGER OF THE MULTI-MANAGEMENT OPERATIONS OF
M CUBED AND MOMENTUM INTERNATIONAL MULTI-MANAGERS (PROPRIETARY) LIMITED
1. It was announced on SENS on 2 September 2004 and in the press on 3
September 2004 that, subject to the fulfilment of certain conditions precedent,
the multi-management operations of m Cubed and Momentum International Multi-
Managers (Proprietary) Limited (`MIMM`) would be merged into a new asset
management company (`AM Holdco`) and m Cubed would dispose of that percentage of
AM Holdco to MIMM for R72 million as will result in AM Holdco being held in
equal shares by m Cubed and MIMM (`the transaction`).
2. The competition authorities have now unconditionally approved the
transaction.
3. The transaction is still subject to the approval of m Cubed shareholders in
general meeting and the approval of the Financial Services Board.
4. A circular to m Cubed shareholders containing details of the transaction
and the proposed cash distribution (the salient features of which were contained
in an announcement published on SENS on 22 December 2004 and in the press on 23
December 2004) and a notice of a general meeting of m Cubed shareholders, will
be posted to m Cubed shareholders on 13 January 2005.
Johannesburg
12 January 2005
Sponsor and corporate adviser
PSG CAPITAL LIMITED
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