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AFRICAN DAWN CAPITAL LIMITED - Specific Issue Now Unconditional

Release Date: 05/12/2018 08:50
Code(s): ADW     PDF:  
Wrap Text
Specific Issue Now Unconditional

AFRICAN DAWN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/020520/06)
Share code: ADW
ISIN Code: ZAE000223194
(“Afdawn” or “the Company”)


SPECIFIC ISSUE NOW UNCONDITIONAL


SPECIFIC ISSUE UNCONDITIONAL

Shareholders are referred to the SENS announcements released by Afdawn on
6 August 2018, 26 October 2018 and 26 November 2018, regarding the proposed specific
issue for cash of 26 800 000 ordinary shares with a par value of 40 cents each in Afdawn’s
share capital (“Issue Shares”) to Arvesco 153 Proprietary Limited (“Arvesco”), at an issue
price of 35 cents per Issue Share (“Issue Price”) amounting to a total issue consideration of
R 9.38 million (“Specific Issue”).

The Specific Issue was subject to the fulfilment of certain conditions precedent, as detailed in
the circular distributed to Afdawn shareholders, dated 26 October 2018 (“Circular”).

Afdawn is pleased to announce that all conditions precedent to the Specific Issue have now
been fulfilled and that implementation of the Specific Issue will, accordingly, now proceed on
the basis detailed in the Circular. Afdawn will issue and allot the Issue Shares to Arvesco at
the Issue Price per Issue Share on Friday, 7 December 2018, or as soon as possible
thereafter.

STATEMENT BY THE NON-EXECUTIVE BOARD

The Specific Issue becoming unconditional marks a very significant milestone in Afdawn’s
history. The non-executive directors wish to place on record their recognition of the
contribution made by Jacques Groenewald, CEO, and Graham Hope, CFO, to reaching this
milestone. Their unwavering commitment and loyalty, their unquestionable integrity and the
very meaningful personal sacrifices made by them sets a very high standard of corporate
leadership.

Most of their contribution has been out of the public eye and with very little recognition. In
making this statement the non-executive board wishes to place their contribution on record
and express appreciation for it.

Cape Town
5 December 2018

Corporate Adviser and Designated Adviser
PSG Capital

Date: 05/12/2018 08:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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