VISUAL INTERNATIONAL HOLDINGS LIMITED - Extension of Time for Posting of Mosegedi Circular
VIS 201707110026A
Extension of Time for Posting of Mosegedi Circular
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“the Company” or “Visual”)
ISIN Code: ZAE000187407 Share code: VIS
EXTENSION OF TIME FOR POSTING OF MOSEGEDI CIRCULAR
Shareholders are referred to the announcement released on SENS on 1 March 2017 in
which they were advised that Visual reached an agreement with the shareholders of
Mosegedi & Associates Proprietary Limited (“Mosegedi”) for the acquisition of 50.1% of the
issued share capital of Mosegedi in two phases and approval of an option by way of
specific authority to issue shares for cash. Phase two of the Mosegedi acquisition is a
Category 1 transaction and requires shareholder approval.
The Mosegedi audit is taking longer than expected and though good progress has been
made, the audit will not be completed in time due to inter alia, conversion to International
Financial Reporting Standards. As a result, the draft financials will not be completed in
time to meet the futher extension previously granted by the JSE. Draft financials are
expected during July 2017, as such the circular will not be completed and distributed to
shareholders within the extended time frames previously granted by the JSE.
Visual shareholders are therefore advised that the JSE has accordingly granted the
Company a further extension to 31 July 2017 to post the required circular.
Cape Town
11 July 2017
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
Date: 11/07/2017 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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