| Fri 1 Jul 2011, 15:24 | | ISA - ISA Holdings Limited - Conclusion of BEE transaction |
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ISA
ISA
ISA - ISA Holdings Limited - Conclusion of BEE transaction
ISA Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/009608/06)
(JSE code: ISA ISIN: ZAE000067344)
("ISA" or "the company")
CONCLUSION OF BEE TRANSACTION
Shareholders are referred to the SENS announcement dated 30 June 2006, where
it was announced that ISA had entered into a BEE transaction with Viewcrest
Trading 3 (Pty) Limited, subsequently renamed EmpowerGroup Holdings (Pty)
Limited ("EmpowerGroup"), for a 32.5% interest in ISA. Andrew Maren and Alan
Naidoo of EmpowerGroup, each of whom have a 38.5% interest in EmpowerGroup,
were also appointed to the Board of ISA as non-executive directors.
In terms of the transaction, including subsequent amendments thereto,
EmpowerGroup was obliged to receive from the company one additional ordinary
ISA share for an amount of R3,896,849, if certain conditions were met as at
30 June 2011.
Shareholders are advised that these conditions have been met and accordingly,
one ordinary ISA share has been transferred to EmpowerGroup from the company
and the proceeds have been credited to ISA`s share premium account. This credit
has effectively offset the balance of the EmpowerGroup loan account.
Johannesburg
1 July 2011
Designated Adviser
Exchange Sponsors
Date: 01/07/2011 15:24:01 Produced by the JSE SENS Department.
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