Kingco - Disposal of right to franchise income cau
Kingco - Disposal of right to franchise income cautionary announcement
KING CONSOLIDATED HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1992/006472/06)
("Kingco" or "the company")
Share code: KNG & ISIN code: ZAE000012902
DISPOSAL OF RIGHT TO FRANCHISE INCOME CAUTIONARY ANNOUNCEMENT
The directors of Kingco wish to announce that the company has entered an
agreement with a subsidiary of Famous Brands Limited, a company listed on the
JSE Limited, to dispose of its right to franchise income from its complement of
38 Bimbo"s franchise agreements linked specifically to Engen Petroleum Company
forecourt sites.
The consideration for the disposal is R4.75 million. The disposal is subject to
the fulfilment of certain conditions precedent.
A detailed announcement giving the terms of the disposal and the pro forma
effects thereof will be made shortly. In the meanwhile, shareholders are advised
to exercise caution in dealing in their Kingco shares.
Johannesburg
16 November 2005
Sponsor
SASFIN CORPORATE FINANCE
A division of Sasfin Bank Limited
Date: 16/11/2005 05:49:02 PM Produced by the JSE SENS Department
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