| Mon 26 Jun 2006, 8:51 | | Spectrum - Transfer of listing to the Altx and fur |
|
SUM
SUM
Spectrum - Transfer of listing to the Altx and further cautionary
Spectrum Shipping Limited
(Registration number 1998/018118/06)
(Share code: SUM & ISIN number: ZAE000037446)
TRANSFER OF LISTING TO THE ALTX AND FURTHER CAUTIONARY
Rivergroup is authorised to announce that Spectrum Shipping Limited ("Spectrum")
has been granted approval to transfer its listing to the AltX board of the JSE
lists from TUESDAY, 27 JUNE 2006.
As Spectrum is already listed on the DCM board of the JSE lists Spectrum has not
published a pre-listing statement and investors requiring information on the
company should request Audited Annual Financial Statements either from Spectrum
at 5th Floor, MSC House, 54 Winder Street, Durban, 4001 (PO Box 6148, Durban,
4000) or the company secretary JA Lupton ACIS, (PO Box 1319, Hillcrest, 3650) or
the transfer secretaries Computershare Investor Services 2004 (Pty) Limited (PO
Box 61051, Marshalltown, 2107)
Introduction
Spectrum is a comprehensive international supply chain logistics service
provider utilising intelligent "end to end" logistics solutions, and in addition
offers additional services through its four new subsidiaries:
* Spectrum Shipping NVOCC (Proprietary) Limited ("NVOCC") a non-vessel owner
common carrier;
* Spectrum Warehousing Solutions (Proprietary) Limited ("SWS") providing
warehousing solutions to clients;
* Supply Chain Insurance Brokers (Proprietary) Limited ("SCIB") providing
marine and other insurance products to clients; and
Supply Chain Financial Services (Proprietary) Limited ("SCFS") a financial
services provider.
Spectrum has 900 000 000 ordinary shares of 0,1 cent each in issue and listed on
the DCM board of the JSE lists and has been granted permission to list all the
issued shares on the AltX board of the JSE lists from the commencement of
business Tuesday, 27 June 2006. Existing share certificates are not being
recalled.
Directors
Director Business Address
Stanley Donner 5th Floor, MCS House, 54 Winder Street, Durban,
4001
Glen Henry Gerber 5th Floor, MCS House, 54 Winder Street, Durban,
4001
David Costello Kelly 5th Floor, MCS House, 54 Winder Street, Durban,
4001
Rajin Singh 5th Floor, MCS House, 54 Winder Street, Durban,
4001
Moses Tembe 26th Floor, Old Mutual Centre, 303 West Street,
Durban, 4001
Sandile Donald 28 Forest Ridge, Woodlands Office Park, Western
Muziwenkosi Zungu Services Road, Woodmead, 5721
Financial Information
Presented below are extracts from the audited annual financial statements for
the year ended 31 December 2005 and the forecasts for the periods ending 31
December 2006 and 2007 which have been reviewed by Marwick & Company Inc., the
company"s auditors, who"s report is available for inspection at the company"s
registered office.
2005 Audited 2006 Reviewed 2007 Reviewed
Gross Billings 552,436,442 748,604,901 801,007,244
Turnover 31,009,914 35,659,523 38,818,814
Profit after taxation 1,383,406 2,985,901 4,291,602
Headline Earnings 2,116,408 2,985,901 4,291,602
Shares in issue 900,000,000 900,000,000 900,000,000
EPS (cents) 0,2 0,3 0,5
Headline EPS (cents) 0,2 0,3 0,5
Further Cautionery
Further to the cautionary announcement dated 6 June 2006, shareholders are
advised that the company is still involved in discussions which may have a
material affect on the price of the company" shares. Accordingly, shareholders
are advised to continue exercising caution when dealing in Spectrum shares until
a further announcement is made.
Warning: The listing of the ordinary shares in the company is on the ALTX.
Shareholders are advised of the risks of investing in a company listed on the
ALTX. Shareholders are advised that the JSE does not guarantee the viability or
the success of a company listed on the ALTX. In terms of the JSE Listings
Requirements a designated advisor has to be retained by the company. The
designated advisor is required to, inter alia, attend all board meetings held by
the company to ensure that all JSE Listings Requirements and applicable
regulations are complied with, approve the financial director of the company and
guide the company in a competent, professional and impartial manner. If the
company fails to retain a designated advisor it must make arrangements to
appoint a new designated advisor within 10 business days, failing which the
company faces suspension of trading of its securities. If a designated advisor
is not appointed within 30 days of its suspension the company faces the
termination of its listing without an offer to minority shareholders.
26 June 2006
Corporate and Designated Advisor
RIVER GROUP
Date: 26/06/2006 08:51:21 AM Produced by the JSE SENS Department
