ACT / ACTP - Afrocentric - Extension of conditions Precedent
ACT ACTP
ACT
ACT / ACTP - Afrocentric - Extension of conditions Precedent
AFROCENTRIC INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
Share code: ACT/ ACTP & ISIN: ZAE000078416 / ZAE000082269
("AfroCentric" or "the Company")
LETHIMVULA INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/005087/06)
("Lethimvula")
Extension of conditions precedent
Shareholders of both AfroCentric and Lethimvula are referred to the joint
AfroCentric and Lethimvula announcement released on the Securities Exchange News
Service ("SENS") of the JSE Limited on 23 September 2008, as well as the
subsequent announcements released on SENS on 15 and 31 October 2008, and are
advised that the date for fulfilment of the following conditions precedent being
30 November 2008, has been extended by AfroCentric to 31 January 2009:
- approval of the Acquisition by the AfroCentric Shareholders;
- obtaining such regulatory approvals as are required to implement the
Acquisition; and
- raising such funding to enable AfroCentric to discharge the upfront cash
portion payable in terms of the Acquisition and the Obligatory Offer. In
this regard a term sheet has been signed subject to, inter alia, the
signature of final legal agreements
For and on behalf of the board of AfroCentric For and on behalf of the board
of Lethimvula
Sandton Sandton
3 December 2008 3 December 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: 03/12/2008 12:47:01 Produced by the JSE SENS Department.
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