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NAMPAK - ANNOUNCEMENT

Release Date: 08/04/1999 12:25
Code(s): NPK NPKPNPP1
Wrap Text
NAMPAK LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 68/08070/06)
("NAMPAK")
ANNOUNCEMENT

NAMPAK AND DYNAMO INVESTMENTS LIMITED ("DYNAMO") HAVE CONCLUDED AN AGREEMENT IN TERMS OF WHICH THEIR RESPECTIVE TISSUE BUSINESSES HAVE BEEN MERGED IN A NEW COMPANY IN WHICH NAMPAK HAS AN INITIAL 85% SHAREHOLDING AND DYNAMO HOLDS THE BALANCE, TOGETHER WITH AN OPTION FOR DYNAMO TO ACQUIRE A FURTHER 15% IN THREE YEARS' TIME. THE EFFECTIVE DATE OF THE TRANSACTION WAS 1 APRIL 1999.
THE NEW COMPANY WILL TRADE AS NAMPAK TISSUE (PTY) LIMITED. SANDTON 8 APRIL 1999

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