AFRICAN DAWN CAPITAL LIMITED - Update On Disposal Of Elite Group (Proprietary) Limited And Withdrawal Of Cautionary Announcement

Update On Disposal Of Elite Group (Proprietary) Limited And Withdrawal Of Cautionary Announcement

African Dawn Capital Limited
Incorporated in the Republic of South Africa
(Registration Number: 1998/020520/06)
JSE share code: ADW
ISIN: ZAE000060703
(“Afdawn” or the “Company")

UPDATE ON DISPOSAL OF ELITE GROUP (PROPRIETARY) LIMITED AND
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

1.   UPDATE ON DISPOSAL OF ELITE GROUP (PROPRIETARY) LIMITED

     Shareholders are referred to the SENS announcement dated 30
     May 2014 (“the Announcement”), wherein shareholders were
     advised that the Company had entered into an agreement with
     Elite Group 1 Proprietary Limited (“the Purchaser” or “Elite
     Group 1”), in terms of which, if successfully implemented,
     Afdawn would dispose of 100% of the issued shares, claims and
     assets in Elite Group (Proprietary) Limited, a wholly-owned
     subsidiary of Afdawn to the Purchaser (“the Agreement”) (“the
     Elite Group Disposal”).

     Shareholders are hereby advised that certain of the suspensive
     conditions as set out in the Announcement have not been
     fulfilled and the Agreement has lapsed. Accordingly, the
     Agreement is no longer of any force or effect and the Elite
     Group Disposal will no longer be implemented by the Company.

2.   WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

     Shareholders are referred to the cautionary announcement
     included in the Announcement and are hereby advised that as
     the Elite Group Disposal to Elite Group 1 will no longer be
     implemented by the Company, caution is no longer required to
     be exercised by shareholders when dealing in their securities.

Johannesburg
19 June 2014

Corporate Adviser and Transaction Designated Adviser
PSG Capital

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