| Thu 17 Feb 2011, 8:42 | | IFC - IFCA Technologies Limited - IFCA Tech secures USD100 million capital |
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IFC
IFC
IFC - IFCA Technologies Limited - IFCA Tech secures USD100 million capital
finance facility
IFCA TECHNOLOGIES LIMITED
Incorporated in the Republic of South Africa)
(Registration number 2006/030759/06)
Share code: IFC & ISIN: ZAE000088555
("IFCA Tech" or "the company")
IFCA TECH SECURES USD100 MILLION CAPITAL FINANCE FACILITY
IFCA Tech is pleased to announce that it has successfully negotiated and signed
a USD100 million Special Private Placement Agreement ("SPPA") with Singapore
based investment fund Equity Partners Fund SPC ("Equity Partners Fund").
Any new IFCA Tech shares issued in terms of the facility will be issued in terms
of IFCA Tech `s general authority to issue shares for cash in terms of the JSE
Listings Requirements approved by shareholders at the last Annual General
Meeting on 2 August 2010, although it is intended that specific authority to
issue shares for cash over the next three years will be requested in a circular
to shareholders, that will also contain details of various acquisitions that are
currently being negotiated by IFCA Tech, details of which will be announced in
due course.
About IFCA Technologies Limited
IFCA Technologies Limited is in the process of changing its investment strategy
to providing financial services and treasury functions to facilitate the funding
and development of (i) Mining; (ii) Property; and (iii) Construction
opportunities. IFCA has managed to successfully secure a foreign equity draw
down facility, which will enable it to invest in several exciting new projects
and business ventures. It is envisaged that the corporate name will be changed
imminently to reflect the new business strategy. The composition of the IFCA
Board will accordingly be changed over time in order to adequately represent the
interests of the underlying investments.
"The three focus areas represent growth and value creation opportunities, as
well as being sectors aligned with government strategy in terms of investment
and Job creation" said Colin Clarke, Chairman of IFCA Technologies.
About Equity Partners Fund SPC
The Equity Partners Fund focuses on equity investments in public companies with
market capitalizations under $1 billion. The fund will invest in all sectors
including infrastructure, manufacturing, construction, mining, communications,
healthcare and finance.
Fund spokesperson Bruce Nelson says, "The fund is considered a private fund run
by its principals, similar to a merchant bank that invests its own capital.
Equity Partners Fund is able to act quickly and is flexible when it comes to
structuring an investment."
Johannesburg
17 February 2011
Designated Advisor
Arcay Moela Sponsors (Pty) Limited
Date: 17/02/2011 08:42:01 Produced by the JSE SENS Department.
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