IMBALIE BEAUTY LIMITED - Partially underwritten renounceable rights offer

Partially underwritten renounceable rights offer

Imbalie Beauty Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/025374/06)
JSE code: ILE
ISIN: ZAE000165239
("Imbalie Beauty” or “the Company")

PARTIALLY UNDERWRITTEN RENOUNCEABLE RIGHTS OFFER

Shareholders are referred to the announcement released on the
Stock Exchange News Service (“SENS”) of the JSE Limited (“JSE”)
of 27 September 2017 wherein Shareholders were advised that
Imbalie Beauty was in the process of finalising a Rights Offer
for the Company to raise additional capital.

1.   INTRODUCTION AND RATIONALE FOR THE RIGHTS OFFER

     The rationale for raising additional capital of R15 million
     in terms of the Rights Offer for the Company is, inter alia,
     as follows:

     -   to strengthen the balance sheet of Imbalie Beauty;
     -   to fund an internal restructuring of the Company; and
     -   to continue to fund the ongoing growth of the Group.

     The board has resolved on 31 October 2017 to undertake a
     Rights Offer of 750 000 000 new ordinary par value shares
     of 0.0001 cents each at an issue price of 2 cents per rights
     share, in the ratio of 118.28921 Rights Offer Shares for
     every 100 Imbalie ordinary shares held on the Record Date.

     The issue price of 2 cents per rights share equates to a
     57% discount to the weighted average share price of Imbalie
     shares for the 30-day period ended 31 October 2017.

     Imbalie Beauty entered into an underwriting agreement on or
     about the 14 November 2017 with SA Madiba Investments
     Proprietary Limited, Holistics Remedies Proprietary Limited
     and Brits Engineering Proprietary Limited in terms of which
     they agreed to underwrite the allotment and issue of a
     maximum of 500 000 000 shares of the Rights Offer at 2 cents
     per share.

     Mr WP van der Merwe, an executive director of Imbalie
     Beauty, is a Shareholder and director of SA Madiba
     Investments Proprietary Limited.

2.    ANNOUNCEMENT AND CIRCULAR

      A detailed announcement including the salient dates of the
      Rights Offer will be made in due course.

      A circular containing details of the Rights Offer (including
      the form of instruction) will be posted to shareholders in
      due course.


30   November 2017
Woodmead


Designated Advisor
Exchange Sponsors

Date: 30/11/2017 10:37:00 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.