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Dynamic Cables - Lifting of suspension Dynamic Cables RSA Limited (Incorporated in the Republic of South Africa) (Registration number 1987/01807/06) Share Code DYM ISIN number ZAE000028270 (`Dynamic Cables` or `the company`) LIFTING OF THE SUSPENSION OF THE COMPANY`S SHARES ON THE JSE LIMITED WITH EFFECT FROM 12 SEPTEMBER 2005 1. Introduction Shareholders are referred to previous announcements regarding litigation between the company and certain parties relating to the acquisition by the company of shares in Conlog (Proprietary) Limited, the issue of shares in the capital of the company in consideration for such acquisition and the suspension of the company`s listing on the JSE Limited (`the JSE`) on 28 February 2002. 2. The suspension Dynamic Cables requested the JSE to suspend the listing of Dynamic Cables shares on the JSE in order to investigate certain irregularities in relation to previous transactions, dating back to the period prior to which Cape Empowerment Trust Limited became the controlling shareholder of Dynamic Cables, pursuant to which Dynamic Cables shares were allotted and issued and which may have rendered such allotment and issue invalid. The suspension afforded Dynamic Cables an opportunity to investigate the matter fully and was intended to ensure that, to the extent that any of the Dynamic Cables shares in issue may have been tainted, there would be no further public trading in such tainted shares to the potential prejudice of shareholders concerned. 3. The tainted shares After a thorough investigation Dynamic Cables isolated the potential irregularities to the transaction concluded during 1997 between Dynamic and various parties (`the vendors`) in terms whereof Dynamic (then known as Log-Tek Limited) acquired the entire issued share capital of Conlog (Proprietary) Limited in consideration for, inter alia, the allotment and issue to the vendors of 18 000 000 new Dynamic Cables shares (`the tainted Dynamic Cables shares`. 4. The settlement and Court order Dynamic Cables instituted appropriate legal proceedings, and entered into discussions with certain of the vendors. These processes culminated in the conclusion of settlement agreements with various vendors pursuant whereto approximately 9 761 026 Dynamic Cables shares (the bulk of which are tainted Dynamic Cables shares) (`the returned Dynamic Cables shares`) have been made available to a facilitation structure established for this purpose on the basis that they are to be dealt with by Dynamic Cables as it deems fit and in the best interests of its shareholders. In the circumstances it became necessary to validate and regularise the invalid allotment and issue of the tainted Dynamic Cables shares, to enable the returned shares to be properly dealt with for the benefit of all shareholders and for the remaining tainted Dynamic Cables shares to be validated in the hands of the current holders thereof. Dynamic Cables applied to the High Court (Cape Provincial Division) for an Order under Section 97 of the Companies Act, 1973 to validate the allotment and issue of the tainted Dynamic Cables shares with retrospective effect to the date of such allotment and issue. Such an Order was granted on 18 August 2005. 5. Lifting of suspension Inasmuch as the company is not aware of any other irregularities pertaining to the issue of any Dynamic Cables shares, it has applied to the JSE for the suspension of the listing of the Dynamic Cables shares to be lifted, to enable shareholders to resume trading in their shares. The JSE have granted this application and Dynamic Cables shares will commence trading on the JSE with effect from 12 September 2005. 6. The returned Dynamic Cables shares Dynamic Cables is currently investigating which action could be most appropriately taken in connection with the returned Dynamic shares for the benefit of all shareholders. It will inform shareholders of its proposals in this regard as soon as a final decision has been made by the board. Cape Town 9 September 2005 Sponsor Sasfin Corporate Finance A division of Sasfin Bank Limited Attorneys Hofmeyr Herbstein Gihwala Inc. Date: 09/09/2005 01:09:07 PM Produced by the JSE SENS Department
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