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IVT
IVT
Invicta - Raising of finance for restructuring and BEE transaction
Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Share code: IVT & ISIN code: ZAE000029773
("Invicta")
RAISING OF FINANCE FOR RESTRUCTURING and BEE TRANSACTION
Shareholders of Invicta are advised that in accordance with the shareholders"
resolutions passed at the general meeting held on Monday, 25 July 2005 and for
purposes of facilitating a black economic empowerment ("BEE") transaction in
respect of the Invicta group of companies:
1. the internal restructuring and consolidation of the Invicta group of
companies into wholly-owned subsidiaries of Humulani Investments
(Proprietary) Limited ("Humulani"), a wholly-owned subsidiary of Invicta
which was established for the purpose of facilitating the BEE transaction,
has been implemented;
2. Humulani has entered into financing arrangements for the purpose of funding
the acquisition of the businesses and assets of the Invicta group of
companies;
3. the finance has been raised through:
(a) the issue of subordinated debentures by Humulani, which debentures
have been issued for a period of 10 years and have been fully funded
by Morgan Stanley & Co. International Limited; and
(b) a term loan facility from the Standard Bank of South Africa Limited;
4 Invicta is now in a position to finalise the negotiation and implementation
of the BEE transaction (for the issue of 25% of the ordinary shares in
Humulani to BEE parties), with the intention of concluding such transaction
by October 2006.
17 February 2006
Cape Town
Corporate Advisor and Debt Originator to Invicta and Humulani
Bravura
Legal Advisors to Invicta and Humulani
Edward Nathan
Transaction Advisors and Attorneys to Invicta and Humulani
Bernadt Vukic Potash & Getz
Sponsor to Invicta
Deloitte & Touche Sponsor Services
Lead Financier
Morgan Stanley
Term Loan Provider
Standard Bank
Debt Originator
Ceres Corporation
Transaction Attorneys
Prinsloo Tindle
Transfer Secretaries
Computershare
Date: 17/02/2006 05:10:04 PM Produced by the JSE SENS Department
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