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SFN SFNP
SFN
SFN / SFNP - Sasfin Holdings - Proposed Transaction Regarding The Specific
Issue Of Shares For Cash
Sasfin Holdings Limited
(Incorporated in the Republic of South Africa)
("Sasfin" or "the company")
(Ordinary share code: SFN
ISIN: AE000006565)
(Preference share code: SFNP
ISIN: ZAE000060273)
Registration Number: 1987/002097/06
PROPOSED TRANSACTION REGARDING THE SPECIFIC ISSUE OF SHARES FOR CASH TO CIRCLE
CAPITAL VENTURES (PROPRIETARY) LIMITED ("CIRCLE CAPITAL")
Shareholders are referred to the announcement released on 11 September 2007,
wherein they were informed that Sasfin had, subject to the fulfilment of certain
suspensive conditions, entered into an agreement in terms of which it would
allot and issue 9 630 000 new Sasfin ordinary shares to Circle Capital as a
specific issue of shares for cash at a subscription price of R51.40 per share
("the transaction"). Shareholders are also referred to the announcement released
on 4 March 2008 wherein shareholders were advised that the transaction had been
marginally downscaled.
The parties have now agreed that, in light of turbulence in the global credit
and equity markets, it is not possible to conclude a transaction on appropriate
terms acceptable to Sasfin, Circle Capital and Circle Capital`s funders, and
therefore the transaction will not be implemented.
TRADING STATEMENT
Shareholders are advised that the headline earnings per share and earnings per
share of Sasfin for the twelve months ending 30 June 2008 are expected to be in
line with those for the previous comparable period, being the twelve months
ended 30 June 2007.
The financial information on which this trading statement is based has not been
reviewed or reported on by Sasfin`s auditors.
24 June 2008
Waverley, Johannesburg
Lead Sponsor:
KPMG Services (Proprietary) Limited
Joint Sponsor:
Sasfin Capital
(a division of Sasfin Bank Limited)
Corporate Law Advisers:
Edward Nathan Sonnenbergs Inc.
Date: 24/06/2008 16:07:01 Produced by the JSE SENS Department.
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