Metrofile Holdings - Update on the final restructu
MFL
MFL
Metrofile Holdings - Update on the final restructure continued cautionary
Metrofile Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/012697/06)
Share code: MFL
ISIN Code: ZAE000061727
("Metrofile Holdings" or "the company")
UPDATE ON THE FINAL RESTRUCTURE OF METROFILE HOLDINGS AND CONTINUED CAUTIONARY
ANNOUNCEMENT
REFINANCING OF METROFILE
In an announcement on 14 July 2006, shareholders of Metrofile Holdings
("shareholders") were advised that Metrofile (Proprietary) Limited had raised
R320 million in new finance ("the funds") from The Standard Bank of South Africa
Limited.
Shareholders are hereby further advised that the conditions precedent have been
met and the transaction has been successfully implemented on Friday, 18 August
2006.
CAUTIONARY ANNOUNCEMENT
Shareholders are advised to continue to exercise caution when dealing in the
Metrofile Holding"s securities until a further announcement is made as the board
has resolved to propose a rights issue to shareholders to settle the loan notes
and creditors and acquire the minority interest in Metrofile. The proposal to
shareholders to increase the share capital of Metrofile Holdings to facilitate
the rights issue and the terms of the rights issue are expected to be announced
in September 2006 after the release of audited results at 30 June 2006.
Cleveland
18 August 2006
Investment bank and sponsor
Standard Bank
Attorneys
Webber Wentzel Bowens
Date: 18/08/2006 02:37:14 PM Produced by the JSE SENS Department
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