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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 Produced by the JSE SENS Department
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