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HCI - Announcement of additional irrevocable commitments received from Johnnic
Holdings Limited ("Johnnic") shareholders in respect of the HCI offer
Hosken Consolidated Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI ISIN: ZAE000003257)
("HCI")
Announcement of additional irrevocable commitments received from
Johnnic Holdings Limited ("Johnnic") shareholders in respect of
the HCI offer
1. Introduction
The shareholders of HCI and Johnnic are referred to the announcement
published by HCI on the Securities Exchange News Service ("SENS") of the
JSE Limited ("JSE") on Friday, 5 August 2005 as well as the circular
("offer circular") posted to Johnnic shareholders on Monday, 1 August 2005,
detailing the terms of the mandatory offer ("the offer") extended by HCI,
through its wholly-owned subsidiary, Mercanto Investments (Proprietary)
Limited ("Mercanto"), to Johnnic ordinary shareholders ("Johnnic
shareholders"), other than HCI or its subsidiaries, to acquire the
remainder of the issued ordinary shares in the capital of Johnnic ("offer
shares").
2. Irrevocable commitments
As announced on 5 August 2005 irrevocable commitments were received from
Johnnic shareholders holding 5 161 660 ordinary shares in the issued share
capital of Johnnic to accept the offer.
Additional irrevocable commitments have been received from Johnnic
shareholders holding 3 860 170 ordinary shares in the issued share capital
of Johnnic to accept the offer in respect of their entire shareholding. The
irrevocable commitments will be available for inspection at the registered
office of HCI from Monday, 24 October 2005 up to and including the closing
date of the offer.
Accordingly HCI holds irrevocable commitments to accept the offer from
Johnnic shareholders that collectively hold approximately 5.4% of the
ordinary shares in the issued share capital of Johnnic.
3. Terms and conditions
The terms and conditions of the offer remain as set out in the offer
circular.
4. Important information for foreign shareholders
As indicated in the offer circular, the offer does not constitute an offer
in or an acceptance from the United States, the United Kingdom, Canada,
Australia, Japan or any other jurisdiction where the dissemination of
information or the making of the offer may be illegal or fails to conform
to the laws of such jurisdiction ("Affected Jurisdiction"). Persons in
Affected Jurisdictions may not accept the offer. This is not an offer for
holders of American Depository Receipts relating to Johnnic shares.
24 October 2005
Durban
Investment Lead sponsor Joint Legal Advisor Corporate
Bank and sponsor Advisor
Advisor
Investec Ernst & Young Investec Sonnenberg HJS
Corporate Bank Limited Hoffman
Finance Galombik
Date: 24/10/2005 05:34:18 PM Produced by the JSE SENS Department
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