Sekunjalo Investments Limited - Results of partially underwritten renounceable

Sekunjalo Investments Limited - Results of partially underwritten renounceable  
rights offer                                                                    
Sekunjalo Investments Limited                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1996/006093/06)                                            
Share code: SKJ     ISIN: ZAE000017893                                          
("Sekunjalo")                                                                   
Results of partially underwritten renounceable rights offer                     
Nedbank Corporate is authorised to announce the results of the renounceable     
rights offer by Sekunjalo in terms of which 145 454 545 Sekunjalo B ordinary    
shares ("B shares") were offered at a subscription price of 55 cents per new B  
share ("the rights offer").                                                     
Shareholders and/or their renouncees have subscribed for 36 328 774 new B       
shares, or 25% of the new B shares offered in terms of the rights offer. The    
balance of 109 125 771 new B shares has been subscribed for by the underwriters,
with Sekunjalo Investment Holdings (Proprietary) Limited taking up 70 943 953   
new B shares (49%) and Futuregrowth Asset Management (Proprietary) Limited      
(acting as agent for Momentum Group Limited) taking up 38 181 818 new B shares  
(26%).                                                                          
Accordingly, Sekunjalo has raised the maximum rights offer proceeds of R80      
million.  The Board of Sekunjalo are of the view that the level of public       
interest combined with the favourable underwriting structure reflects growing   
confidence in Sekunjalo and will enable the company to use its strengthened     
financial position to capitalise on organic and acquisitive growth prospects.   
Dematerialised shareholders will have their safe custody accounts updated with  
the new B shares subscribed for in terms of the rights offer on Monday, 26      
January 2004.  Share certificates in respect of new B shares will be posted to  
certificated shareholders on Tuesday, 27 January 2004.                          
Cape Town                                                                       
26 January 2004                                                                 
Investment bank, corporate advisor and sponsor                                  
Nedbank Corporate                                                               
Date: 26/01/2004 03:43:02 PM Supplied by www.sharenet.co.za                     
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