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Opening of Bookbuild Issue for Cash
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
ISIN Code: ZAE000187407 Share code: VIS
("Visual" or "the Company")
OPENING OF BOOKBUILD ISSUE FOR CASH
Visual hereby announces the launch of an equity raising ("Equity Raise") up to
R2 million through the issue of new ordinary shares ("Bookbuild Shares"), subject to
pricing acceptable to Visual.
Participation in the Equity Raise will be offered to qualifying investors (as set out in
greater detail in the disclaimers below) and will be implemented through a bookbuild
process ("Bookbuild") which opens with immediate effect and may close at any time
thereafter.
The Company reserves the right to increase the size of the Bookbuild, subject to
demand and pricing.
Pricing and allocations will be decided at the close of the Bookbuild. The timing of the
closing of the Bookbuild and the price at which the Bookbuild Shares will be placed
("Bookbuild Price") are at the discretion of the Company and AcaciaCap Advisors,
acting as sole bookrunner for the Equity Raise ("Bookrunner"). Pricing and allocations
in terms of the Bookbuild will be announced as soon as practicable following the
closing of the Bookbuild.
The Equity Raise will be offered in terms of Visual's existing general authority to issue
shares for cash ("General Issue for Cash"), granted by shareholders at the annual
general meeting of the Company on 05 September 2025. The 30-day Volume
Weighted Average Price ("VWAP") at the date the Board agreed to proceed with the
bookbuild was 2.33 cents at 18 March 2026.
In accordance with Visual's General Issue for Cash authority, related parties may
participate in same provided they do so at the price at which the book closes (subject
to their maximum bid price). However, as the bookbuild is during a closed period,
directors may not participate in this bookbuild.
Visual will allocate shares to participants equitably, and will consider factors including
existing shareholdings in Visual, pricing and sizing of bids, receipt of early submissions
of commitments and due process.
Equity Raise Rationale
The rationale for the equity raise is to raise additional funds to assist the company with
its working capital requirements whilst its projects come to fruition.
The Company reserves the right to close the Bookbuild at any time. The Bookbuild
Shares, when issued, will be credited as fully paid and will rank pari passu in all respects
with the existing shares of the Company.
AcaciaCap Advisors, the sole bookrunner, can be contacted using the contact
details included below.
Email: fadhil@acaciacap.co.za Email: alex@acaciacap.co.za
Telephone: +27 (0) 71 367 3947 Telephone: +27 (0) 84 504 9468
Fadhil Saleh Alexander Krastanov
By Order of the Board
Cape Town
19 March 2026
Directors: CK Robertson; R Kadalie; Dr RR Richards*#; CT Vorster*#; LT Matlholwa*
(* non-executive # independent)
Registered Address: 23 Kleinplaas, Hohenort Street, Stellenberg, 7550 (PO Box 3163,
Tyger Valley, 7536)
Company Secretary: Light Consulting Proprietary Limited
Transfer Secretaries: JSE Investor Services Proprietary Limited at One Exchange
Square, Gwen Lane, Sandown, Sandton, 2196
Designated Advisor: AcaciaCap Advisors Proprietary Limited
Website: www.visualinternational.co.za
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 19-03-2026 08:10:00
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