Sharenet Sites 
Sharenet Sites
Update on the mandatory offer
Sherbourne Capital Limited
(Previously trading as IFCA Technologies Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2006/030759/06)
Share code: SHB ISIN: ZAE000165403
(“Sherbourne” or the "Company”)
UPDATE TO THE MANDATORY OFFER
Shareholders are referred to the announcement of 13 July 2012 regarding the update pertaining to the
payment of the mandatory offer consideration to Sherbourne minority shareholders. Shareholders are
advised that the Board of Sherbourne have been doing everything possible in order to find the necessary
shareholders required to replace the minority shareholders. There has been interest from a number of
potential investors but they have indicated that they were not willing to participate in a buy-out of the
minorities until Sherbourne has concluded an acquisition. With corporate actions currently being pursued,
the Board is confident that this situation will be rectified more expeditiously. Any potential acquisition by
Sherbourne and the resultant issue of Sherbourne shares is not going to affect payment to the minority
shareholders. The Board is of the opinion that the minorities will be paid by no later than 30 November
2012, subject to successfully finalising negotiations with a new shareholder. Shareholders will be kept up
to date with any further developments in this regard.
The directors of Sherbourne accept responsibility for the information contained in the announcement and
confirm that to the best of their knowledge and belief, the information is true; and correct and that it does
not omit anything likely to affect the importance of the information.
Contact person:
Sagie Van Niekerk
011 784 0120
Johannesburg
18 October 2012
Designated Adviser: Bridge Capital Advisors (Pty) Limited
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