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DAWN - Proposed waiver of mandatory offer

Release Date: 19/12/2005 13:48
Code(s): DAW
Wrap Text

DAWN - Proposed waiver of mandatory offer Distribution and Warehousing Network Limited Share code: DAW Isin: ZAE000018834 PROPOSED WAIVER OF MANDATORY OFFER BY UKHAMBA TO DAWN SHAREHOLDERS: RULING BY EXECUTIVE DIRECTOR Introduction Shareholders of Distribution and Warehousing Network Limited ("Dawn") are referred to the announcement published by the Securities Regulation Panel ("SRP") on 6 December 2005 advising shareholders that Dawn and Ukhamba Holdings (Proprietary) Limited ("Ukhamba") , Dawn"s black economic empowerment partner, made an application to the SRP requesting the Executive Director of the SRP to waive the requirement in terms of rule 8 of the Securities Regulation Code and rules of the Securities Regulation Panel ("the SRP rules") for Ukhamba to make a mandatory offer to the shareholders of Dawn at a price of R2-40 per Dawn share. Shareholders were invited to provide written submissions to the Executive Director of the SRP by 15 December 2005 as to why the SRP should not consent to the waiver of the mandatory offer as required by the SRP rules. Ruling The Executive Director of the SRP has not received any submissions following the request for submissions in the announcement referred to above relating to the waiver of Rule 8 of the SRP rules. Consequently the Executive Director of the SRP has ruled that Ukhamba be exempted from making the mandatory offer. 20 December 2005 Parktown Date: 19/12/2005 01:48:05 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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