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Esor - Approval of the Acquisition of Franki by Competition Commission

Release Date: 09/10/2006 15:12:03      Code(s): ESR
Esor - Approval of the Acquisition of Franki by Competition Commission          
Esor Limited                                                                    
(Incorporated in the Republic of South Africa)                                  
Registration number: 1994/000732/06)                                            
(JSE code: ESR & ISIN: ZAE000078408)                                            
("Esor" or "the company")                                                       
APPROVAL OF THE ACQUISITION OF FRANKI AFRICA SA (PROPRIETARY) LIMITED BY        
COMPETITION COMMISSION                                                          
Shareholders are referred to the announcement dated 25 August 2006, in terms of 
which it was announced that Esor has, subject to certain conditions precedent,  
agreed to purchase all the issued shares in and claims on loan account against  
Franki Africa (Proprietary) Limited ("Franki") from the shareholders of Franki  
("the acquisition").                                                            
Shareholders are advised that the Competition Commission has, on 5 October 2006,
unconditionally approved the acquisition.                                       
A circular with full particulars of the proposed acquisition, as well as Revised
Listing Particulars of Esor and a notice of a general meeting of shareholders,  
will be mailed to shareholders by 18 October 2006.                              
Johannesburg                                                                    
9 October 2006                                                                  
Designated adviser                    Exchange Sponsors                         
Auditors                              RSM Betty & Davis                         
Attorneys                             Fluxmans Inc.                             
Attorneys for Competition Commission                                            
Application                           Brink Cohen Le Roux Inc.                  
Warning: The listing of ordinary shares in the company is on ALTx.  Investors   
are advised of the risks of investing in a company listed on ALTx. Investors are
advised that the JSE does not guarantee the viability or the success of a       
company listed on ALTx.  In terms of the Listings Requirements, the company is  
obliged to appoint and retain a Designated Adviser, which is required to, inter 
alia, attend all board meetings held by the company to ensure that all the      
Listings Requirements and applicable regulations are complied with, approve the 
Financial Director of the company and guide the company in a competent,         
professional and impartial manner.  If the company fails to retain a Designated 
Adviser, it must make arrangements to appoint a new Designated Adviser within 10
business days, failing which the company faces suspension of trading of its     
securities.  If a Designated Adviser is not appointed within 30 days of its     
suspension, the company faces the termination of its listing without the        
prospect of an appropriate offer to minority shareholders.                      
Date: 09/10/2006 03:12:05 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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