ELB Group Limited - Further Cautionary Announcemen
ELB Group Limited - Further Cautionary Announcement
ELB GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1930/002553/06)
Share codes: ELR and ELRP
ISIN: ZAE000035101 and ZAE000035333
("ELB" or "the company")
FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcements released on SENS on 8 September 2005 and
20 October 2005, shareholders are advised that the ELB Board has decided that
the company should remain listed on the JSE Limited and will therefore not
pursue any plans to have ELB delisted.
The Board has further decided to pursue negotiations with a suitable Black
Economic Empowerment partner ("BEE partner") for ELB Equipment, the group"s
equipment and engineering business but not for ELB Timbers, the group"s timber
business. The timber business is not yet profitable and a BEE partner will only
be brought into the business once it achieves a satisfactory level of
profitability. The full impact of this decision is currently being determined
and may have a material effect on the price of the company"s securities.
Accordingly, shareholders are advised to continue exercising caution when
dealing in the company"s securities until a detailed announcement is made.
Boksburg
10 November 2005
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10/11/2005 03:46:48 PM Produced by the JSE SENS Department
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