1999/07/16
PROFIT WARNING AND FURTHER CAUTIONARY ANNOUNCEMENT [JSE Securities Exchange - SENS]
 
16/07/1999 - 20:35:36

UNIVERSAL GROWTH HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 66/007844/06)
("UNIGRO" OR "THE COMPANY")
PROFIT WARNING AND FURTHER CAUTIONARY ANNOUNCEMENT
1 PROFIT WARNING
SHAREHOLDERS ARE ADVISED THAT, OWING TO OPERATIONAL DIFFICULTIES HAVING BEEN
EXPERIENCED AT CERTAIN SUBSIDIARIES, HEADLINE EARNINGS PER SHARE IN THE YEAR TO
JUNE 1999 WILL NOT MEET THE TARGETS AS PREVIOUSLY ANTICIPATED. IN ADDITION, THE
COMPANY SUSPECTS THAT UNLAWFUL CONDUCT HAS BEEN COMMITTED BY A THIRD PARTY
COMPANY CONTRACTED TO ONE OF UNIGRO'S SUBSIDIARIES, WHICH HAS SUBSTANTIALLY
AFFECTED THE OVERALL PERFORMANCE OF THE SUBSIDIARIES CONCERNED. UNIGRO IS
SEEKING TO RECOVER DAMAGES SUSTAINED.
2. FURTHER CAUTIONARY ANNOUNCEMENT
FURTHER TO THE CAUTIONARY ANNOUNCEMENT PUBLISHED IN THE PRESS ON 17 JUNE 1999,
SHAREHOLDERS ARE ADVISED THAT UNIGRO IS STILL INVOLVED IN NEGOTIATIONS
REGARDING VARIOUS ACQUISITIONS WHICH, IF SUCCESSFULLY CONCLUDED, MAY HAVE AN
IMPACT ON THE PRICE AT WHICH THE UNIGRO SHARES TRADE ON THE JOHANNESBURG STOCK
EXCHANGE.
ACCORDINGLY, SHAREHOLDERS ARE ADVISED TO CONTINUE TO EXERCISE CAUTION WHEN
DEALING IN THEIR SHARES UNTIL A FURTHER ANNOUNCEMENT IS MADE.
BY ORDER OF THE BOARD
N LONGONO CA (SA)
THE COMPANY SECRETARY
REGISTERED OFFICE
CNR LOWER MAIN REEF AND WILGESPRUIT ROADS
ROODEPOORT WEST, 1725
(PO BOX 600, ROODEPOORT, 1725)
JOHANNESBURG
16 JULY 1999
CORPORATE ADVISERS
LFC
LEVITT FRIEDMAN CORPORATE
PRODUCED BY: PATIENCE MOATSHE 16-07-1999 07:46 SENS

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Source: JSE Securities Exchange - SENS
 
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