|
NUT
NUT
NUT - Nutritional Holdings Limited - Successful agreements reached with The
Industrial Development Corporation of South Africa Limited and withdrawal of
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")
SUCCESSFUL AGREEMENTS REACHED WITH THE INDUSTRIAL DEVELOPMENT CORPORATION OF
SOUTH AFRICA LIMITED ("IDC") AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement released on the Securities Exchange
News Service ("SENS") on 28 November 2011 and its renewal on 12 January 2012,
7 February 2012 and 20 March 2012, the board of directors of Nutritional
Holdings("the Board") is pleased to advise that an in-principle agreement has
been reached with the IDC for the funding for the Imuniti Nutritional
Supplement Combo Pack ("ISCP") Project ("the Funding Agreement"). The
Funding Agreement is subject to signing of legal agreements and the
fulfillment of certain conditions precedent.
As mentioned in the announcement dated 7 February 2012, an application was
made to the IDC for the funding of the ISCP project together with Edge to
Edge Global Investments Limited ("E2E").
A phased approach has now been taken for the funding of the project and it
has been agreed that the immediate requirements of funding to ensure the
success of this project would be for:
- the cost of the setting up of distribution outlets by E2E; and
- the cost of the clinical Phase II trials to be carried out by E2E on the
ISCP for reaffirmation of previous trials on the product.
The manufacturing capacity of the Nutritional Holdings plant is sufficient in
the short term and allows for the supply of the ISCP in the interim.
Accordingly, the upgrade of the manufacturing facilities by Nutritional
Holdings will be done at a later stage as and when the demand for the ISCP
product has increased.
The funding by the IDC is therefore being routed directly to E2E with IDC
committing to an initial R100 million to E2E linked to an equity transaction
by E2E with a BBBEE partner, namely Makana Investment Corporation ("MIC").
MIC is a company initiated by the formation of the Ex-Political Prisoners
Committee, a committee formed as a result of a call by Nelson Mandela.
The Board is very pleased with this outcome as it has a direct beneficial
effect on the manufacturing and supply of the ISCP by Nutritional Holdings to
E2E in terms of the exclusive manufacturing agreement signed in June 2011.
The same staged approach to the funding via the Department of Trade and
Industry is being adopted with regards to the Industrial Participation
Programme. Negotiations are still ongoing by E2E with Obligors in this
programme.
WITHDRAWAL OF CAUTIONARY
Shareholders of Nutritional Holdings are referred to the renewal of
cautionary announcement dated 20 March 2012, and are advised that caution is
no longer required to be exercised by shareholders when dealing in the
Company`s securities.
Umhlanga
2 April 2012
Designated advisor: PSG Capital Proprietary Limited
Date: 02/04/2012 13:12:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
