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Howden Africa Holdings Limited - Renewal Of Cautionary Announcement

Release Date: 24/05/2002 07:06
Code(s): HWN
Wrap Text

Howden Africa Holdings Limited - Renewal Of Cautionary Announcement Howden Africa Holdings Limited (Registration number: 1996/002982/06) Share Code: HWN ISIN Code: ZAE 000010583 ("HAH" or "the Company") RENEWAL OF CAUTIONARY ANNOUNCEMENT Further to the cautionary announcements dated 5 December 2001, 15 January 2002, 26 February 2002 and 9 April 2002 shareholders are advised that negotiations are still in progress which, if successfully concluded, may have a material effect on the price of the Company`s shares. HAH is negotiating to merge Howden Pumps (Proprietary) Limited, a wholly- owned subsidiary of HAH, with the businesses of Orbit Pumps Manufacturing (Proprietary) Limited and Orbit Pumps (Botswana) (Proprietary) Limited, wholly-owned subsidiaries of Liquid Movers Holdings NV ("LMH"). The proposed merger will result in a combined manufacturing and distributor business of agricultural, industrial and process pumps in Southern Africa. HAH and LMH will use their best endeavors to give effect to and conclude the proposed merger, which merger, will be subject to, inter alia, the requisite regulatory authorities and approvals. Until such time as the negotiations are completed and full details can be provided, shareholders should continue exercising caution when dealing in the Company`s shares until a further announcement is made. Johannesburg 24 May 2002 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd (Registration Number: 1970/003711/07) Date: 24/05/2002 07:05:00 AM Produced by the SENS Department

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