To view the PDF file, sign up for a MySharenet subscription.

ZARCLEAR HOLDINGS LIMITED - Voluntary announcement: Market update

Release Date: 20/02/2019 16:00
Code(s): ZCL     PDF:  
 
Wrap Text
Voluntary announcement: Market update

ZARCLEAR HOLDINGS LIMITED
(formerly Sandown Capital Limited)
(Incorporated in South Africa)
(Registration number 2000/013674/06)
Share code: ZCL ISIN: ZAE000262820
("Zarclear" or "the Company")


VOLUNTARY ANNOUNCEMENT: MARKET UPDATE


Shareholders are referred to the circular issued by the Company on 16 October 2018 relating to, inter alia, the
Company's revised investment policy ("revised investment policy"), which revised investment policy was
subsequently approved by shareholders at the general meeting held on 15 November 2018.

Zarclear is on track in building and acquiring market infrastructure and regulation technology businesses and
reorganising its balance sheet to support their activities. To this end, it provides the following updates:

   -   Sandown Capital International Limited ("SCIL"), a wholly-owned subsidiary of the Company, has exited its
       investments in Capital Step Limited ("Capital Step") by way of a sale of all its shares at par value and the
       repayment of its sub-ordinated loans to Capital Step. SCIL has been released from all future funding
       obligations to Capital Step. SCIL has written off its working capital loans and accrued interest on loans to
       Capital Step;
   -   Zarclear has purchased 60% of Envisionit Stock Lending Solutions (RF) Proprietary Limited ("ESLS"), an
       independent black-owned and black-operated lending business, for R15.2 million on a historic multiple of
       6.5 times earnings. ESLS will be renamed to "Zarclear Securities Lending"; and
   -   shareholders are informed that the net asset value per Zarclear share as at 19 February 2019 was
       approximately 520 cents per share and the Company has cash balances of approximately R280 million.

The information included in this announcement has not been reviewed or reported on by the Company's auditors.

20 February 2019


Sponsor
Java Capital

Date: 20/02/2019 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story