ACC - Acc-Ross - Proof of funding in relation to t
ACC
ACC
ACC - Acc-Ross - Proof of funding in relation to the disposal of The Bay and
Cautionary Announcement
ACC-ROSS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/000059/06)
Share code: ACC & ISIN: ZAE000077335
("Acc-Ross" or "the company")
PROOF OF FUNDING IN RELATION TO THE DISPOSAL OF THE BAY AND CAUTIONARY
ANNOUNCEMENT
Shareholders were advised on 19 February 2007 that due date for fulfilment of
certain suspensive conditions requiring the proposed purchaser of The Bay to
provide proof of funding had been extended to 14 March 2007 and that
finalisation of the circular to shareholders had been halted pending performance
in terms of this clause. The disposal is for a total purchase consideration of
R195 550 000, through a number of agreements dated 14 December 2006 and an
addendum dated 27 December 2006, subject to certain conditions precedent. One of
the suspensive conditions was written confirmation of loan funding to the
purchaser for an amount of R95 550 000 by no later than 14 February 2007, which
date was extended to 14 March 2007 in terms of the aforementioned agreements.
The directors of Acc-Ross are pleased to announce that the purchaser has
provided proof of funding in accordance with the agreements and that the company
will proceed with the finalisation of the circular to shareholders.
Cautionary announcement
Shareholders are advised that the company has entered into separate negotiations
that may have material impact on the price at which the company`s securities
trade. Accordingly, shareholders are advised to exercise caution in dealing in
their securities until a further announcement is made.
Johannesburg
16 March 2007
Designated Advisor
Arcay Moela Sponsors
Date: 16/03/2007 15:33:53 Produced by the JSE SENS Department.
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