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VISUAL INTERNATIONAL HOLDINGS LIMITED - Quarterly Update Announcement - Publication of Year End Results

Release Date: 14/12/2018 14:56
Code(s): VIS     PDF:  
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Quarterly Update Announcement - Publication of Year End Results

VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“Visual” or “the Company”)
ISIN code: ZAE000187407       Share code: VIS

QUARTERLY UPDATE ANNOUNCEMENT - PUBLICATION OF YEAR END RESULTS

Shareholders are referred to the announcement published on 28 November 2018 (“Previous
Announcement”) regarding, amongst other things, the reason for the delay in the publication of the
Company’s yearend results, i.e. being partly due to the Company having to secure alternative
funding following the non-payment of the consideration in terms of the previously announced claw-
back offer as advised to shareholders, and the fact that the Company is in the process of securing
additional equity funding, as detailed in the Previous Announcement.

Shareholders are advised that negotiations with a number of parties regarding an equity investment
into Visual are ongoing. Additionally, the board of directors is still in the process of evaluating the
expressions of interest received from two parties to acquire the Stellendale Junction land and
deliberating on the best way forward for the Company and its shareholders.

The audited results are anticipated to be published once the auditors’ requirements, as stated in the
announcement published on 12 October 2018, have been addressed. The interim results have also
been prepared and will be published as soon as possible.


Cape Town
14 December 2018

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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