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CASHBUILD - FURTHER CAUTIONARY ANNOUNCEMENT

Release Date: 25/08/1999 07:02
Code(s): CSB
Wrap Text
CASHBUILD LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 86/01503/06)
("CASHBUILD")
FURTHER CAUTIONARY ANNOUNCEMENT

IT WAS ANNOUNCED IN THE PRESS ON 23 JULY 1999 THAT PEPKOR LIMITED ("PEPKOR") AND A CONSORTIUM OF PURCHASERS, LED BY THE MANAGEMENT OF CASHBUILD("THE CONSORTIUM"), HAVE ENTERED INTO AN AGREEMENT FOR THE DISPOSAL TO THE CONSORTIUM OF PEPKOR'S ENTIRE SHAREHOLDING IN CASHBUILD, SUBJECT TO THE FULFILMENT OF CERTAIN CONDITIONS PRECEDENT BY 19 AUGUST 1999. THESE CONDITIONS COULD NOT BE MET AS A RESULT OF A DELAY IN THE FINALISATION AND PUBLICATION OF CASHBUILD'S FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 1999.
SHAREHOLDERS ARE THEREFORE ADVISED THAT THE DATE BY WHICH THE CONDITIONS PRECEDENT HAVE TO BE MET, HAS BEEN EXTENDED PENDING FINALISATION OF CASHBUILD'S FINANCIAL RESULTS AND THAT THEY SHOULD CONTINUE TO EXERCISE CAUTION IN DEALING IN THEIR CASHBUILD SHARES UNTIL A FURTHER ANNOUNCEMENT CONFIRMING COMPLIANCE OR NOT WITH THE CONDITIONS PRECEDENT IS MADE. JOHANNESBURG 24 AUGUST 1999 SPONSORING BROKER BOE SECURITIES (PTY) LTD MEMBER OF THE JOHANNESBURG STOCK EXCHANGE CO REG NO. 96/15589/07

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