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EFFICIENT GROUP LIMITED - Update on the Specific Issue

Release Date: 23/10/2019 16:30
Code(s): EFG     PDF:  
Wrap Text
Update on the Specific Issue

EFFICIENT GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 2006/036947/06)
Share code: EFG   ISIN: ZAE000151841
(“Efficient” or “the Company”)


UPDATE ON THE SPECIFIC ISSUE


Shareholders are referred to the announcements released on SENS on 29 July 2019, 27 August 2019 and
25 September 2019, and to the circular distributed to Shareholders on 27 August 2019 (“Circular”)
pertaining to the specific issue of 27 777 778 new Efficient Shares to Apis at a price of R4.50 per Share for
an aggregate amount of R125 000 001 (“Specific Issue”). Terms defined in the Circular shall, unless
otherwise stated, bear the same meaning in this announcement.

As set out in the Circular, Shareholders were advised, inter alia, that the Specific Issue was subject to the
fulfilment of certain conditions precedent by no later than 17:00 on 30 September 2019 (“Fulfilment Date”)
and that the implementation date of the Specific Issue shall occur not later than the 20th Business Day
following the Fulfilment Date.

Shareholders are hereby advised that while the conditions precedent were fulfilled on 25 September 2019,
as per the provisions of the Subscription Agreement, Efficient and Apis have agreed to extend the
implementation date of the Specific Issue to no later than 31 October 2019.


Pretoria
23 October 2019

Sponsor to Efficient
Merchantec Capital

Corporate Advisor to Efficient
Bravura Capital

Legal Advisors to Efficient
Adams & Adams

Date: 23/10/2019 04:30:00
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