OLG - Onelogix Group Limited - Financial Effects And Withdrawal Of Cautionary

OLG - Onelogix Group Limited - Financial Effects And Withdrawal Of Cautionary   
Announcement                                                                    
Onelogix Group Limited                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1998/004519/06)                                           
JSE code: OLG & ISIN: ZAE000026399                                              
("OLG")                                                                         
FINANCIAL EFFECTS AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                     
INTRODUCTION                                                                    
Shareholders are referred to the announcement released on SENS on 11 March 2009 
regarding the acquisition by OLG of the equity in each of PM Hire (Proprietary) 
Limited, RFB Logistics (Proprietary) Limited and Lynx Investments (Proprietary) 
Limited (collectively "the RFB group").                                         
Set out below are the pro forma financial effects of the acquisition of the RFB 
Group.                                                                          
PRO FORMA FINANCIAL EFFECTS                                                     
The pro forma financial information set out below has been prepared for         
illustrative purposes only, to provide information on how the transaction may   
have impacted on the historical results and financial position of OLG.          
Because of its nature, the pro forma financial information may not give a fair  
reflection of OLG`s financial position after the transaction, or the effect of  
the transaction on OLG`s future earnings.                                       
The calculation of the pro forma financial information is the responsibility of 
the directors.                                                                  
                                      Before      After                         
                                      acquisition acquisition                   
                                      of the RFB  of the RFB   % change         
Group       Group                         

                                      (cents)     (cents)                       
Earnings and headline earnings per     8.3         9.6          17              
share                                                                           
Diluted earnings and headline          8.3         9.6          17              
earnings per share                                                              
Net asset value per share              71.6        71.6         -               
Tangible net asset value per share     50.3        44.8         (11)            


Notes and assumptions:                                                          
-    The figures set out in the "Before acquisition of the RFB Group" column    
    above have been extracted from the unaudited interim results for the six    
months ended 30 November 2008.                                              
-    The figures set out in the "After acquisition of the RFB Group" column     
    above have been extracted from the unaudited management accounts of the RFB 
    Group for the six months ended 30 November 2008.                            
-    The acquisition of the RFB Group is assumed to have been implemented on 1  
    June 2008 for earnings and headline earnings per share purposes and on 30   
    November 2008 for net asset and tangible net asset value per share          
    purposes.                                                                   
-    It is assumed that:                                                        
    -    the maximum purchase consideration payable of R22 500 000 is paid,     
         settled as to R13,000,000 in cash on the implementation date (assumed  
         31 May 2009) and R9,500,000 in cash on 1 March 2010;                   
-    the cash portion is settled out of existing cash resources and the     
         resultant reduction in finance income has been calculated at 9%;       
    -    the deferred payment accrues interest at 15% per annum;                
    -    taxation has been provided for at 28%;                                 
-    there are 210 million ordinary OLG shares in issue before and after    
         the transaction.                                                       
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT                                           
Shareholders are advised that caution is no longer required to be exercised when
dealing in their OLG shares.                                                    
1 April 2009                                                                    
Designated Advisor                                                              
Java Capital (Proprietary) Limited                                              
Date: 01/04/2009 13:42:03 Supplied by www.sharenet.co.za                     
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.