Ellerines/Relyant - Progress update on Competition
Ellerines/Relyant - Progress update on Competition proceedings
Ellerine Holdings Limited Relyant Retail Limited
(Incorporated in the Republic of South (Incorporated in the Republic of South
Africa) 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 25 January 2005 requested by the Competition Commission. The
boards of Ellerines and Relyant wish to inform shareholders that the Competition
Commission has yesterday unconditionally recommended to the Competition Tribunal
that it approve the Proposed Transaction. The Competition Tribunal is expected
to rule on the Proposed Transaction during February or March 2005. The offer by
Ellerines to Relyant shareholders will only be made once a final ruling
approving the Proposed Transaction is obtained from the Competition Tribunal.
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
26 January 2005
Financial advisor to Legal advisor to Ellerines Sponsor to Ellerines
Ellerines
Andisa Capital Cliffe Dekker Nedbank Capital
Independent advisor to Legal advisor to Relyant Sponsor to Relyant
Relyant
(Java Capital) (Sonnenberg Hoffman (Investec Bank Limited)
Galombik)
Independent transaction
advisor
(Morgan Stanley)
Date: 26/01/2005 07:00:29 AM
Produced by the JSE SENS Department
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
