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JCD - JCI Limited - Announcement relating to the disposal of

Release Date: 03/08/2011 16:23
Code(s): JCD KRHT
Wrap Text

JCD - JCI Limited - Announcement relating to the disposal of Boschendal and renewal of cautionary announcement JCI LIMITED (Incorporated in the Republic of South Africa) Registration number 1894/00854/06 Share code: JCD ISIN: ZAE0000039681 (Suspended) ("JCI" or "the Company") Announcement relating to the disposal of all shares and claims in Boschendal (Pty) Limited ("Boschendal") by JCI Investment Finance (Pty) Limited ("JCIIF"), a 100% owned subsidiary of JCI and a 62.67% shareholder in Boschendal, to Cinmark Twenty Seven (Pty) Limited ("Cinmark" or "the Purchaser") and renewal of cautionary announcement. Shareholders are referred to the announcement dated 25 July 2011 which highlighted the condition precedent that Cinmark Twenty Seven (Pty) Ltd ("Cinmark") had until close of business on 27 July 2011 to deliver a bank guarantee by First National Bank for an amount of R700 million. JCI Investment Finance (Pty) Ltd and IFA Boschendal Investments (Pty) Ltd ("the Sellers") exercised their right to extend the date to the close of business on Friday 29 July 2011. However, by such extended date the bank guarantee had still not been received from Cinmark and, accordingly the Agreement has lapsed and is now regarded as null and void. The Sellers are, however, still in discussions with Cinmark and accordingly shareholders are advised to continue exercising caution when dealing in the Company`s securities until discussions are final. CAUTIONARY ANNOUNCEMENT In addition, shareholders are referred to the previous cautionary announcement dated 6 July 2011 relating to the legal application by Hemispherx Biopharma Incorporated, and shareholders are also advised to continue to exercise caution when dealing in the Company`s securities, until a further announcement is made in respect thereto. Johannesburg 3 August 2011 Sponsor: Investec Bank Limited Date: 03/08/2011 16:23:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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