| Fri 4 Nov 2011, 15:00 | | BILETS - Letshego Holdings Limited - Withdrawal of cautionary |
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JSE
BILETS
BILETS - Letshego Holdings Limited - Withdrawal of cautionary
announcement
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
("Letshego Holdings" or "the Company")
This announcement is being released on the Johannesburg Stock Exchange
for information purposes only in respect of Letshego Holdings Limited`s
Note Programme
Withdrawal of cautionary announcement
Letshego, a leading provider of unsecured consumer loans, is listed on
the Botswana Stock Exchange, is IFSC accredited and has operations in
Botswana, Mozambique, Namibia, Swaziland, Tanzania, Uganda and Zambia.
The Board of Directors of the Company issued a cautionary announcement to
shareholders on 1 September 2011 informing them that Letshego Financial
Services (Pty) Limited (`Letshego Botswana`), a material subsidiary of
Letshego Holdings, became aware on 31 August 2011 of the intention of the
Government of the Republic of Botswana to cease facilitating the
deduction of Micro Lenders loan repayments from source effective 1
December 2011.
This cautionary announcement was renewed on 21 September 2011 and again
on 12 October 2011.
The Board of Directors noted that should this revocation come into effect
Letshego Botswana will use alternative methods for the collection of
contractual monthly loan repayments and that it is engaging with the
relevant authorities to obtain more clarity and a resolution to this
matter.
On 3 November 2011, the Board of Directors was informed by the central
registry that the 1 December 2011 deadline for termination of services
has been put on hold until the review process between the relevant
stakeholders is complete. Normal central registry operations have resumed
and the 1 December 2011 deadline is no longer applicable.
Accordingly, Shareholders are advised that caution when dealing in the
shares of the Company is no longer necessary.
Gaborone
4 November 2011
Debt sponsor in South Africa
Renaissance BJM Securities (Pty) Ltd
Sponsoring broker in Botswana
Stockbrokers Botswana Limited
Date: 04/11/2011 15:00:01 Produced by the JSE SENS Department.
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