VISUAL INTERNATIONAL HOLDINGS LIMITED - Update - Specific Issue of Shares for Cash to Zigzag and AM Associates and Cautionary Announcement
VIS 201904100048A
Update - Specific Issue of Shares for Cash to Zigzag and AM Associates and Cautionary Announcement
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
ISIN Code: ZAE000187407 Share code: VIS
("Visual" or "the Company")
UPDATE - SPECIFIC ISSUE OF SHARES FOR CASH TO ZIGZAG SA INVESTMENTS 1 LIMITED
("ZIGZAG") AND AM ASSOCIATES THE DAVIDWORTH GROUP PROPRIETARY LIMITED ("AM
ASSOCIATES") AND CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the previous announcements published on SENS dated 1 April
2019 and 12 March 2019, respectively and are hereby advised that the current agreement
with Zigzag and AM Associates has lapsed due to one of the conditions precedent, being
the completion of the due diligence, not being met by the due date.
However, the due diligence is expected to be finalised this week and currently there are
no major concerns therewith. Accordingly, a new agreement is expected to be signed on
similar terms.
Shareholders are also advised that another potential investor has approached the
Company to invest on the same terms.
Accordingly, shareholders are advised to exercise caution when dealing in their Visual
securities until a full announcement is made.
Cape Town
10 April 2019
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
Date: 10/04/2019 04:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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