| Fri 10 Oct 2008, 7:05 | | PPE - Purple Capital - Investment in bond exchange of South Africa |
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PPE
PPE
PPE - Purple Capital - Investment in bond exchange of South Africa
Purple Capital Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE ISIN: ZAE000071411
("Purple Capital" or "the company")
INVESTMENT IN BOND EXCHANGE OF SOUTH AFRICA
Purple Capital, as part of a select group of financial institutions,
participated in underwriting the Bond Exchange of South Africa Limited ("BESA")
rights issue of R80,8 million.
The rights issue closed on 30 September 2008 and Purple Capital holds 5,3% of
the total number of shares in issue for an investment of R7,5 million.
BESA is positioned as one of only two licensed securities exchanges in South
Africa and is the preferred exchange for operating and regulating the debt
securities and interest-rate derivatives markets in South Africa.
The South African bond market is amongst the largest and most liquid in the
world, ranking fourth by fixed income value traded in 2007 and during the first
half of 2008 in the top ten exchanges worldwide. Bond turnover reported on BESA
in the 2007 calendar year reached a record R13,8 trillion, with year-on-year
turnover to end August 2008 reaching R17,1 trillion.
The effect of the rights issue is to significantly strengthen BESA`s shareholder
and capital base with various strategic partners. As a result, BESA will be
better positioned to drive value through an extended set of products and
services to financial market participants, and to accelerate the development of
financial market infrastructure in South Africa.
Purple Capital views the investment in BESA as securing its share in the next
growth phase of BESA which is expected to yield significant returns for its
shareholders.
Johannesburg
10 October 2008
Sponsor: KPMG Services (Pty) Ltd
Date: 10/10/2008 07:05:02 Produced by the JSE SENS Department.
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