ACT ACTP
ACT
ACT / ACTP - Afrocentric Investment Corporation - Extension Of Conditions
Precedent And Renewal Of Cautionary Announcement
AFROCENTRIC INVESTMENT CORPORATION LIMITED LETHIMVULA INVESTMENTS LIMITED
(Incorporated in the Republic of South (Incorporated in the Republic of
Africa) South Africa)
(Registration number 1988/000570/06) (Registration number 2006/005087/06)
Share code: ACT/ ACTP & ISIN: ("Lethimvula")
ZAE000078416 / ZAE000082269
("AfroCentric" or "the Company")
Extension of conditions precedent and renewal of cautionary announcement
Shareholders of both AfroCentric and Lethimvula are referred to the joint
AfroCentric and Lethimvula announcement released on the Securities Exchange
News Service of the JSE Limited on 23 September 2008 in which they were
advised that AfroCentric had entered into a share purchase agreement to
acquire 63.2% of the entire issued share capital of Lethimvula (the
"Acquisition") from certain Lethimvula shareholders and are advised that the
date for fulfilment of the conditions precedent relating to the approval of
the Acquisition by the board of directors of AfroCentric and the conclusion of
a due diligence of Lethimvula to the satisfaction of AfroCentric, being 15
October 2008, has been extended by AfroCentric to 31 October 2008.
Shareholders of both AfroCentric and Lethimvula are advised to continue
exercising caution in trading their shares until such time as a further
announcement containing, inter alia, the pro forma financial effects of the
Acquisition is made.
For and on behalf of the board of AfroCentric For and on behalf of the
board of Lethimvula
Sandton Sandton
15 October 2008 15 October 2008
Investment Bank and sponsor to the transaction
Investec Bank Limited
(Registration number 1969/004763/06)
Legal advisor to AfroCentric
HR Levin Attorneys, Notaries & Conveyancers
(Practice number M2841)
Legal advisor to the Sellers
Rothbart Inc
(Registration number 1995/001105/21)
Date: 15/10/2008 16:53:22 Produced by the JSE SENS Department.
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