Business Connexion Group Limited - Enhancement Of BEE Status
BUSINESS CONNEXION GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/005282/06)
Share code: BCX
ISIN: ZAE000054631
("BCX")
ENHANCEMENT OF BLACK ECONOMIC EMPOWERMENT ("BEE") STATUS
Shareholders are advised that the existing BEE shareholder of BCX, namely,
Gadlex (Proprietary) Limited ("Gadlex") which hold a 25,01% interest in Business
Connexion (Proprietary) Limited is currently held as to 64.91% thereof by BEE
persons and/or entities. The BEE shareholders in Gadlex have acquired an
additional 32.09% of Gadlex from the minority shareholders thereby increasing
the BEE percentage shareholding in Gadlex to 97%. The remaining 3 % of Gadlex
is held by a trust for the benefit of employees.
In order to facilitate this enhancement in its BEE credentials through the
increase in the effective BEE shareholding in Business Connexion (Proprietary)
Limited, BCX has provided a payment guarantee to the funder of the transaction
up to a maximum amount of R67 million. This guarantee expires on 15 January
2007.
Sandton
19 October 2005
Investment bank
Investec Corporate Finance
Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)
Legal Advisers
Cliffe Dekker
Date: 19/10/2005 02:38:02 PM Produced by the JSE SENS Department
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