ADW
ADW
ADW - African Dawn - Market Update
AFRICAN DAWN CAPITAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1998/020520/06)
JSE code: ADW
ISIN: ZAE000060703
("African Dawn" or "the company" or "the Group")
MARKET UPDATE
The directors are pleased to provide the following market update pertaining
to African Dawn:
Additional funding secured - Short-term Secured Finance Division
In line with management`s commitment to decrease funding costs in this
division, management report that -
- Additional funding to the value of R185 million at prime-linked
overdraft rates has been secured.
- African Dawn intends to increase its BBBE empowerment levels to above
30%, which in turn will provide further opportunities to secure
additional funding.
Additional funding secured - Home Improvement Division
An additional facility of R68 million has been secured for this division at
interest rates not exceeding the prime lending rate. The facility will be
utilised to fund the significant growth experienced in the home improvement
and consumer finance divisions
African expansion
The Group is currently exploring opportunities to become a provider of credit
across East Africa, focusing mainly in Kenya, Uganda and Tanzania, through
the consumer finance division.
Shareholders will be kept informed of any further developments.
1 October 2008
Designated Adviser
Vunani Corporate Finance
Date: 01/10/2008 15:24:02 Produced by the JSE SENS Department.
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