Purple Capital Limited - Update On The Proposed Ac
Purple Capital Limited - Update On The Proposed Acquisitions
PURPLE CAPITAL LIMITED
(formerly AVASA Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE ISIN: ZAE000063897
(`Purple Capital` or `the company`)
UPDATE ON THE PROPOSED ACQUISITIONS
1. UPDATE
Further to the announcement dated 24 March 2005, shareholders are advised
of the following:
* with respect to the proposed acquisition by Purple Capital of a 20%
interest in acsis Limited (`the acsis acquisition`), which requires the
approval of Purple Capital shareholders in general meeting, a circular
detailing the acsis acquisition has been posted to shareholders today; and
* with respect to the proposed acquisition by the company of a 30% interest
in Bridge Capital Group Limited (`the BCG acquisition`), in terms of the
Listings Requirements of the JSE Securities Exchange South Africa (`the JSE`),
Purple Capital appointed, and the JSE approved the appointment,of BDO QuestCo
(Pty) Limited (`the expert`) as the independent professional expert. The
expert is of the opinion that the BCG acquisition is fair and reasonable to
Purple Capital shareholders and a copy of their opinion is available for
inspection at the company`s registered office. The BCG acquisition does not
require shareholder approval.
2. SALIENT DATES AND TIMES
Set out below are the salient dates and times pertaining to the approval by
the Purple Capital shareholders of the acsis acquisition:
2005
Circular distributed to shareholders on Wednesday, 4 May
Forms of proxy for the general meeting to be received
by 10:00 on Tuesday, 17 May
General meeting of Purple Capital shareholders at 10:00 on Thursday, 19 May
Results of the general meeting released on SENS on Thursday, 19 May
Results of the general meeting published in the press on Friday, 20 May
Listing of new Purple Capital shares to be issued in terms
of the acsis acquisition on Monday, 23 May
Johannesburg
4 May 2005
Sponsor
Bridge Capital
Date: 04/05/2005 08:00:04 AM
Produced by the JSE SENS Department
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