PPE - Purple Capital - Acquisition By Purple Capit
PPE
PPE
PPE - Purple Capital - Acquisition By Purple Capital Of A Strategic Stake In A
New Specialist Mortgage Loans Business
Purple Capital Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE & ISIN: ZAE000071411
("Purple Capital")
ACQUISITION BY PURPLE CAPITAL OF A STRATEGIC STAKE IN A NEW SPECIALIST MORTGAGE
LOANS BUSINESS
Purple Capital is pleased to announce that it has acquired, for an investment of
R14 million, a 40% interest in Integer Credit, a Cape Town based residential
mortgage loan business. Further funding will be required to support growth in
the business. A major South African financial services group has committed to
provide capital of up to R500 million to fund the book.
The business has developed proprietary operating systems and processes, is fully
staffed, and is expected to launch within the next 3 to 6 months. In addition,
contracts have been entered into with several mortgage originators to provide
innovative mortgage products, and with a bank to provide retail banking services
to customers.
The cautionary announcement published by Purple Capital on 13 April 2007 is
hereby withdrawn.
Johannesburg
20 April 2007
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 20/04/2007 15:33:21 Produced by the JSE SENS Department.
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