OneLogix - Specific Issue Of Shares For Cash
Onelogix Group Limited
(Registration number 1998/004519/06)
Share code: OLG
ISIN: ZAE000026399
(`OneLogix` or `the Company`)
Warning: The listing of the ordinary shares in the company is on the ALTX.
Shareholders are advised of the risks of investing in a company listed on the
ALTX. Shareholders are advised that the JSE does not guarantee the viability or
the success of a company listed on the ALTX. In terms of the JSE Listings
Requirements a designated advisor has to be retained by the company. The
designated advisor is required to, inter alia, attend all board meetings held by
the company to ensure that all JSE Listings Requirements and applicable
regulations are complied with, approve the financial director of the company and
guide the company in a competent, professional and impartial manner. If the
company fails to retain a designated advisor it must make arrangements to
appoint a new designated advisor within 10 business days, failing which the
company faces suspension of trading of its securities. If a designated advisor
is not appointed within 30 days of its suspension the company faces the
termination of its listing without an offer to minority shareholders.
SPECIFIC ISSUE OF SHARES FOR CASH
INTRODUCTION
As announced on 15 February 2005, Java Capital Holdings (Proprietary) Limited
(`JCH`) funded the Company`s repurchase of 4,492,505 OneLogix shares (`shares`)
at 12.416 cents per share pursuant to the Company`s mandatory offer to
shareholders on the basis that, in due course, the Company would obtain the
requisite shareholder approval to issue the 4,492,505 shares to JCH at 13.35
cents per share. The requisite majority of shareholders agreed irrevocably to
approve such issue of shares at the next general meeting of shareholders. As a
general meeting will be called to approve the black economic empowerment (`BEE`)
transaction announced on 30 August 2005, details of the specific issue of shares
for cash to JCH will be included in the circular detailing the BEE transaction.
FINANCIAL EFFECTS
As the effect on earnings per share, headline earnings per share, net asset
value per share and net tangible asset value per share are not material; no
financial effects of the specific issue of shares for cash have been disclosed.
Johannesburg
8 September 2005
Designated Advisor
Java Capital (Proprietary) Limited
Date: 08/09/2005 03:23:08 PM
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