Purple Capital Limited - Change In Shareholder Bas
PPE
PPE
Purple Capital Limited - Change In Shareholder Base And Appointment Of New
Directors
Purple Capital Limited
(formerly AVASA Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE ISIN: ZAE000071411
("Purple Capital" or "the company")
CHANGE IN SHAREHOLDER BASE AND APPOINTMENT OF NEW DIRECTORS
A total of 24,4 million shares, being 16,8 % of the issued ordinary share
capital of Purple Capital will be purchased by new strategic investors from
several shareholders who were involved with the company while it was operating
as Avasa Holdings Limited (including a non-executive director of Purple Capital,
Julian Treger), who have agreed to sell their shares. Julian Treger will
continue to serve as a non-executive director of the company.
Mark Barnes has increased his investment to 31.0% whilst Julian Treger"s
shareholding has reduced to 3.2% in the company"s ordinary share capital.
Amongst the new investors is Dennis Alter, Chairman and major shareholder of
Advanta Corporation, a speciality finance company headquartered in Spring House,
Pennsylvania, USA.
Advanta is one of the largest issuers of business credit cards in the United
States with managed receivables in excess of $3.8 billion and a market
capitalisation of $880 million. Dennis Alter has agreed to join the board of
directors of Purple Capital as a non-executive director.
Ronnie Lubner, Chairman of the PG Group in South Africa and Chairman of the
international Belron Group has also agreed to join the board of Purple Capital
as a non-executive director.
An announcement containing details of the abovementioned directors" dealings and
changes to the board of directors was released on SENS on Thursday, 2 February
2006.
Johannesburg
3 February 2006
Sponsor: Bridge Capital Services (Pty) Limited
Date: 03/02/2006 04:13:59 PM Produced by the JSE SENS Department
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