CND - Conduit Capital Limited - Acquisition by Con
CND
CND
CND - Conduit Capital Limited - Acquisition by Conduit of a stake in Gateway
Conduit Capital Limited
Incorporated in the Republic of South Africa
(Registration number 1998/017351/06)
Share code: CND & ISIN: ZAE000073128
("Conduit")
ACQUISITION BY CONDUIT OF A STAKE IN GATEWAY CAPITAL LIMITED ("GATEWAY")
Shareholders are advised that Conduit has acquired a 50.05% interest in Gateway
for R14 million (subject to certain profit warranties) with effect from 1 March
2007. Gateway is an innovator in the short-term commercial bridging finance
industry, offering specialised commercial, asset and property finance. Conduit`s
interest in Gateway further develops and complements Conduit`s presence in the
financial services industry.
Shareholders are further advised that Gateway has recently secured a R200
million line of funding for its financing activities. The R200 million facility
will be used to fund the property secured short-term bridging facilities joint
venture between Gateway and a leading structured finance company. The funding is
in addition to the R60 million which Gateway currently has under administration.
Melrose Arch
26 April 2007
Sponsor
Merchant Sponsors (Proprietary) Limited
Corporate advisor
Java Capital (Proprietary) Limited
Date: 26/04/2007 08:00:02 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
