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Transpaco - Broad based black economic empowerment transaction with Ceppwawu and

Release Date: 21/04/2005 09:24
Code(s): TPC
Wrap Text

Transpaco - Broad based black economic empowerment transaction with Ceppwawu and further cautionary announcement Transpaco Limited (Incorporated in the Republic of South Africa) Registration number: 1951/000799/06 Share Code: TPC ISIN: ZAE000007480 ("Transpaco") BROAD BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION ("BBBEE TRANSACTION") WITH CEPPWAWU INVESTMENTS (PROPRIETARY) LIMITED ("CEPPWAWU") AND RENEWAL OF CAUTIONARY ANNOUNCEMENT Further to the cautionary announcement dated 7 October 2004 and the renewals of that cautionary announcement pertaining to a BBBEE transaction, Andisa Capital is authorised to announce that Transpaco has reached agreement, in principal, with Ceppwawu, which will result in Ceppwawu acquiring an effective 27% shareholding in Transpaco. Ceppwawu is whollyowned by the Ceppwawu Development Trust, the beneficiaries of which are the members of the Chemical, Energy, Paper, Printing, Wood and Allied Workers Union of which a majority of Transpaco"s employees and many of the employees of certain of Transpaco"s customers are members. The agreement in principal is being recorded in legal documentation and is subject to the fulfilment of various conditions precedent including approval by shareholders in a general meeting. On signature of the necessary agreements, a full terms announcement will be released. Transpaco shareholders are advised to continue to exercise caution when dealing in their securities until a further announcement is made. Sandton 21 April 2005 Financial adviser and transaction sponsor: Andisa Capital Attorneys: Werksmans Inc. Sponsor: Investec Bank Limited Date: 21/04/2005 09:24:46 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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