JSE
BILETS
BILETS - Letshego Holdings Limited - Trading notice update - Acquisition of
majority shareholding in Micro Africa Limited
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
TRADING NOTICE UPDATE
Acquisition of majority shareholding in Micro Africa Limited
Letshego Holdings Limited is a leading provider of unsecured consumer loans
to formally employed individuals, is listed on the Botswana Stock Exchange,
is IFSC accredited and has operations in Botswana, Mozambique, Namibia,
Swaziland, Tanzania, Uganda and Zambia.
In line with the Pan-African expansion plans of the Letshego Group,
Shareholders were advised on 21 September 2011 that the Group is in the
process of acquiring a 62.52% interest in the issued share capital of Micro
Africa Limited ("MAL"), a private company incorporated in Kenya.
This transaction was expected to be completed by the end of October 2011 but
is now only expected to be completed at the earliest during February 2012
(i.e. after Letshego Holdings Limited`s financial year ending 31 January
2012).
This is due to additional due diligence procedures required to be performed
and the approval of the Kenya Competition Authority.
The terms of the acquisition and the consideration of USD3.3 million are not
expected to change.
Gaborone
20 December 2011
Debt sponsor in South Africa
Renaissance BJM Securities (Pty) Ltd
Sponsoring broker in Botswana
Stockbrokers Botswana Limited
Date: 20/12/2011 15:00:01 Produced by the JSE SENS Department.
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