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NUT
NUT
NUT - Nutritional Holdings Limited - Renewal of existing Cautionary Announcement
NUTRITIONAL HOLDINGS LIMITED
(Previously Imuniti Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration Number 2004/002282/06)
Share code: NUT ISIN: ZAE000156485
("Nutritional Holdings" or "the Company")
RENEWAL OF EXISTING CAUTIONARY ANNOUNCEMENT
1 Shareholders are referred to the previous cautionary announcement dated 12
January 2012.
2 Further to the aforementioned announcement, shareholders are informed that
during the latter part of 2011, an application was made together with Edge
to Edge Global Investment Limited ("E2E") to the National Industrial
Participation Secretariat ("IPS") of the Department of Trade and Industry
("DTI") for the funding of the Imuniti Nutritional Supplement Combo Pack
("ISCP") Project ("the DTI Application"). This application was made
following the positive clinical trial results on the ISCP as announced on
SENS on 23 March 2011.
3 The National Industrial Participation Programme`s role is to fast-track
investment, exports and technology development in South Africa by utilizing
the instrument of government procurement to leverage such initiatives. All
government and parastatal sellers/suppliers with an imported content equal
to or exceeding a certain amount incur an Industrial Procurement Obligation
and are required to participate in the South African economy. It is on this
obligation that the application was made for the ISCP Project.
4 Nutritional Holdings manufactures the ISCP for E2E, the owners of the
intellectual property related to the ISCP, pursuant to the exclusive
manufacturing agreement concluded with E2E as announced on SENS dated 14
June 2011.
5 The DTI Application was made in order to fund the following:
5.1 the upgrade of the manufacturing facilities of Nutritional Holdings in
order to meet the increase in demand of the ISCP when the distribution
of the ISCP escalates to a point where the facilities are not able to
meet the demand;
5.2 the cost of the medical Phase II trials to be carried out by E2E on
the ISCP for reaffirmation purposes; and
5.3 the cost of setting up distribution outlets.
6 Written confirmation has been received from the IPS that on 15 January 2012
a decision was made by the Industrial Participation Internal Control
Committee approving the concept in principle, which allows negotiations
with obligors to commence.
7 In addition to the DTI Application, application was also made to the
Industrial Development Corporation ("the IDC Application") last year in
conjunction with E2E for the funding of the ISCP project. The IDC has
confirmed that they have completed their basic assessment of the
application and any further developments in this regard will be
communicated to shareholders as and when they arise.
8 Shareholders are therefore advised to continue exercising caution when
dealing in the Company`s securities until a further announcement has been
made regarding either of the DTI Application or the IDC Application.
Umhlanga
7 February 2012
Designated advisor: PSG Capital Proprietary Limited
Date: 07/02/2012 17:38:01 Produced by the JSE SENS Department.
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