SOUTHERN AFRICAN INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1941/014601/06)
("SAIL" or "the Company")
Share code: SIL ISIN code: ZAE000013041
EMPOWERMENT SHAREHOLDING ANNOUNCEMENT
SAIL Capital (Pty) Ltd is authorised to announce that Aka Capital (Pty) Ltd
("Aka") acquired an effective 18% equity stake in SAIL.
Aka, led by Reuel Khoza is an empowerment private equity and investment
holding group that seeks to proactively add value to its underlying
investments. Aka has identified sport as an industry geared for exceptional
growth and believe they will be able to add considerable value to SAIL. Aka
will in particular take a keen interest in the implementation of both the
transformation programme for the SAIL Group, and empowerment at an
operational level.
To enhance the empowerment status of SAIL, it's three largest shareholders
(Venfin Media Investments (Pty) Ltd, BoE Ltd and the Esterhuyzen Investment
Trust) have together made available 50 million SAIL shares to Aka, at 150
cents per share for a total consideration of R75 million. In addition they
have provided financial assistance to enable Aka to secure the necessary
funding for the transaction.
The transaction is effective 22 February 2002.
Cape Town
22 February 2002
Corporate Advisor Sponsor
SAIL Capital (Pty) Ltd BoE Securities (Pty) Ltd
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