Johnnic - Appointment Of An Independent Advisor To The Johnnic
Board Of Directors And Cautionary Announcement
Johnnic Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1889/000429/06)
ISIN: ZAE000024352
Code: JNC
(`Johnnic`)
APPOINTMENT OF AN INDEPENDENT ADVISOR TO THE JOHNNIC BOARD OF DIRECTORS AND
CAUTIONARY ANNOUNCEMENT
Johnnic shareholders (`shareholders`) are referred to Johnnic`s announcement
published on the Securities Exchange News Service on Tuesday, 5 July 2005
advising, inter alia, that Hosken Consolidated Investments Limited (`HCI`) had
increased its shareholding in Johnnic to approximately 40% of the issued share
capital of Johnnic and that, in terms of the Securities Regulation Code on
Takeovers and Mergers and the Rules of the Securities Regulation Panel, a
mandatory offer (`the offer`) had to be extended by HCI to shareholders to
acquire the remaining shares in Johnnic which HCI does not already own.
The detailed terms and dates of the offer have not yet been published.
The Board of Directors of Johnnic has appointed PricewaterhouseCoopers Corporate
Finance (Proprietary) Limited as the independent advisor to advise it on the
terms of the offer including the price.
Accordingly, shareholders are advised to continue exercising caution in dealing
in Johnnic shares until the details of the offer and the opinion of the
independent advisor on the offer have been received.
Midrand
26 July 2005
Investment Bank
Standard Bank
Legal Advisors
Webber Wentzel Bowens
Sponsor
Merrill Lynch South Africa (Proprietary) Limited
Date: 26/07/2005 05:18:05 PM
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