FWX - FoneWorx Holdings Limited - Finalisation of Black Economic Empowerment
FWX
FWX
FWX - FoneWorx Holdings Limited - Finalisation of Black Economic Empowerment
transaction
FoneWorx Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1997/010640/06)
Share code: FWX ISIN: ZAE000086237
("FoneWorx")
FINALISATION OF BLACK ECONOMIC EMPOWERMENT TRANSACTION
Shareholders are referred to the SENS announcements released on 5 November 2007,
29 November 2007 and 14 December 2007, regarding the introduction of Kabo
Capital (Proprietary) Limited ("Kabo") as a Black Economic Empowerment partner
through the specific issue of 20 330 612 FoneWorx shares for cash at 106 cents
per share to Kabo and acquisition of 20 470 000 shares by Kabo from certain
FoneWorx directors and an ex-director at 106 cents per share ("the
transaction").
Shareholders are advised that all the conditions precedent to this transaction
have been fulfilled. Kabo owns 30% of the issued shares in FoneWorx.
In terms of the transaction and in compliance with paragraph 3.63 to 3.74 of the
Listings Requirements of the JSE Limited, shareholders are advised that Mr M A
Smith sold 5 500 000 and Mr R Graver sold 4 260 000 shares on 30 May 2008 at 106
cents per share. These shares were held directly and beneficially and clearance
to deal was obtained.
Randburg
2 June 2008
Corporate advisor to FoneWorx
Deloitte & Touche Sponsor Services (Proprietary) Limited
Corporate advisor to Kabo Capital
Deloitte & Touche Corporate Finance
Date: 02/06/2008 16:19:01 Produced by the JSE SENS Department.
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