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OLI
OLI
OLI - O-Line Holdings Limited - Acquisition By Tiso Group Limited ("TISO") Of
Additional 1.83% Equity Interest In O-Line
O-Line Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 2006/034685/06
Share code: OLI
ISIN code: ZAE000110730
("O-Line" or "the Company")
ACQUISITION BY TISO GROUP LIMITED ("TISO") OF ADDITIONAL 1.83% EQUITY INTEREST
IN O-LINE
1. Introduction
Shareholders of O-Line are referred to the O-Line SENS announcement dated
15 December 2009 (the "SENS announcement") for the acquisition by TISO
through the TISO SPV of an approximate 25.16% equity interest in O-Line.
As set out in the SENS announcement, Tiso SPV wishes to hold a 34.09%
equity interest in O-line. Under the Subscription and the Share Sale,
Tiso SPV acquired an effective 25.16% equity interest in O-Line. Thus,
an equity interest of 8.93% remained to be secured by Tiso SPV ("the
outstanding equity stake").
2. Additional 1.83% OLI equity interest acquired by TISO SPV
TISO through the TISO SPV have purchased an additional 4 360 469 OLI
shares at 95 cents per share (the "Purchase"). The salient features of
this purchase are:
2.1 TISO acquired 2 500 000 OLI shares at 95 cents (R2.375m) through an
on market transaction on 18 December 2009 (the "Date of Purchase").
Transfer, clearing and settlement will be done through the JSE
Limited online trading system within 5 days after the Date of
Purchase.
2.2 D van Huyssteen ("DVH"), a director of QuestCo Sponsors (Pty) Ltd
the designated advisor to O-line, sold 1 860 469 OLI shares ("the
Shares") at 95 cents per OLI share (R1.767m) to the TISO SPV through
an off-market transaction on 18 December 2009. The shares were
directly beneficially held by DVH. The necessary ownership transfer
documentation has been prepared and will be lodged with
Computershare in due course. The sale of the Shares is subject to
the suspensive condition that the ownership transfer process
including payment to DVH must be completed by no later than 24
January 2010.
The Purchase increases the OLI equity interest held by TISO through the TISO
SPV from 25.16% to 26.99%. The outstanding equity stake has been reduced from
8.93% to 7.10%.
21 December 2009
Selby
Designated Advisor: QuestCo Sponsors (Pty) Limited
Date: 21/12/2009 17:31:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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