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HOSKEN SAYS INTEND TO LIST MONTAUK ON JSE

24 Mar General

(Reuters) – Hosken Consolidated Investments Ltd : * Says intention to list Montauk on the JSE and the unbundling of HCI’s interest to HCI shareholders * Says it is expected that the Montauk listing will take place in the second half of 2014 * No intention to raise fresh capital on listing as HCI International is well capitalised for its current requirements. * Montauk listing & unbundling to allow HCI shareholders flexibility to maintain, raise or decrease investment * Says listing and unbundling are subject to conditions including JSE and South African Reserve Bank approval