Purple Capital Limited - Press Release
PURPLE CAPITAL LIMITED
Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE ISIN ZAE000063897
This announcement appears for information purposes only
UMNOMBO INVESTMENT HOLDINGS
PURPLE CAPITAL AND BRIDGE CAPITAL INVEST IN UMNOMBO INVESTMENT HOLDINGS
- THE FUTURE GENERATION
Umnombo Investment Holdings (`Umnombo`) are happy to announce that Purple
Capital Limited (`Purple Capital`) and Bridge Capital Group Limited (`Bridge
Capital`) have invested in Umnombo, thereby aligning their economic interests
in a structure that is well positioned to take advantage of the many BEE
opportunities available to the group at present.
This relationship brings together the skills, insights and relationships of
four young black professionals with the proven deal making capability,
networks and capital access of Purple Capital and Bridge Capital.
Umnombo has a preferred advisory and co-investment relationship with the
Democratic Nursing Association of South Africa (`DENOSA`) which aims to
safeguard and promote the dignity, rights and socio-economic status of members
in the nursing profession. DENOSA represents approximately 80 000 nurses and
healthcare workers in South Africa, of which 90% are women.
Umnombo, which means `the future generation`, has focused primarily on the
property, healthcare and services sectors (including IT) and has already
entered into four transactions with companies in the commercial services and
healthcare industries, and is actively pursuing a number of other
opportunities.
The directors of Umnombo are Bongani Caga (B. Law. LLM (Leiden, the
Netherlands)), Khanyisa Gaze (CA (SA)), Mninawa Mketo (B.Com. Hons. Acc.
(RAU)) and Sivile Nzamo (Diploma in Finance and Information Systems and in
Project Management), who collectively bring commercial experience and
relationships within the political arena.
`Umnombo is very excited about this partnership and believes that the Purple
Capital Group, and Bridge Capital in particular, bring to the relationship not
only a track record in corporate finance, negotiation skills and the ability
to assist in raising capital, but also the capacity to pursue and actually
implement transactions`, said Sivile.
Mark Barnes will be appointed Chairman and Bridge Capital will appoint Pieter
Venter as a non-executive director to the Umnombo board.
`This initiative is a further step towards building meaningful relationships
with empowerment groupings in South Africa`, said Barnes.
PURPLE CAPITAL
BRIDGE CAPITAL
Date: 08/04/2005 07:56:30 AM
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