ABC CASH PLUS LIMITED - PROPOSED ACQUISITION OF AFRICAN DAWN INVESTMENTS
RESULTING IN A 26% BLACK ECONOMIC EMPOWERMENT SHAREHOLDING IN ABC
ABC CASH PLUS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/020520/06)
JSE Share code: APS ISIN: ZAE000017554
(`ABC` or `the Company`)
PROPOSED ACQUISITION OF AFRICAN DAWN INVESTMENTS RESULTING IN A 26% BLACK
ECONOMIC EMPOWERMENT SHAREHOLDING IN ABC
1. Introduction
Shareholders are referred to the announcement dated 13 October 2004 in which the
acquisition by ABC of African Dawn Investments (Pty) Ltd (`African Dawn`), a
Black Economic Empowerment (`BEE`) company, was announced.
Shareholders are advised that all the condition precedents have been fulfilled
except for the resolutive condition whereby ABC and African Dawn will endeavour
to secure additional debt funding for ABC of at least R50 million on/or before
31 December 2005 in order to enable it to continue with its business and to
increase its loan book.
2. Issue of shares to African Dawn shareholders
The directors of ABC have decided, in terms of the acquisition agreement of
African Dawn, to issue a pro rata portion of the shares owed to the shareholders
of African Dawn, pro rata to the funding that has been raised. African Dawn has
assisted in securing R 15 million of funding to date out of a required R 50
million. The directors therefore decided to issue 5 317 679 ordinary shares at
an issue price of 10 cents per ordinary share to the shareholders of African
Dawn.
These shares will, subject to the approval of the JSE Securities Exchange South
Africa (`JSE`), be listed on Monday, 20 December 2004.
3. Issue of shares for cash to Designated Advisor
The directors of ABC have decided to issue 500 000 ordinary shares issued in
terms of the general issue for cash to the designated advisor, Exchange Sponsors
(Pty) Limited for services rendered in connection with the Company`s listing on
ALTX. The shares will be issued at 16 cps, being a 4,8% premium to the weighted
average traded price over 30 business days to 8 November 2004, the date used to
determine the issue price, being an amount of R 80 000.
These shares will, subject to the approval of the JSE Securities Exchange South
Africa (`JSE`), be listed on Monday, 20 December 2004.
The above disclosure is given in compliance with rule 21.30 read with rules
3.63 to 3.65 of the JSE Listing Requirements.
13 December 2004
Johannesburg
Designated Advisor
Exchange Sponsors
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