AFRICAN DAWN CAPITAL LIMITED - General Issue Of Shares For Cash And Disclosure Of Acquisition Of Securities

General Issue Of Shares For Cash And Disclosure Of Acquisition Of Securities

AFRICAN DAWN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/020520/06)
Share code: ADW
ISIN Code: ZAE000223194
(“Afdawn” or “the Company”)

GENERAL ISSUE OF SHARES FOR CASH AND DISCLOSURE OF ACQUISITION OF SECURITIES

GENERAL ISSUE OF SHARES FOR CASH

Shareholders are referred to the announcement published on SENS on 9 June 2020, advising
the market that the Company entered into a binding term sheet with Caleo Private Equity
Proprietary Limited (“Caleo”), in terms of which Caleo will provide long-term funding to Elite
Group Proprietary Limited, Afdawn’s subsidiary that provides personal loans to the mass
market (“Term Sheet”).

Pursuant to the Term Sheet, on 27 November 2020, Afdawn duly issued 7 792 459 ordinary
shares to Caleo, at an issue price of 14 cents per share (“the Issued Shares”), being a 10%
discount to the 30-day volume weighted average traded price of Afdawn shares at the close
of business on 4 June 2020, the day before the issue was agreed to in writing (“the Issue”),
in settlement of the capital raising fees due to Caleo. The Issued Shares comprise 12.24% of
the issued share capital of Afdawn post the Issue.

The Issue was made in accordance with the general authority to issue shares obtained from
shareholders at the Company’s annual general meeting held on 4 November 2020.

DISCLOSURE OF ACQUISITION OF SECURITIES

In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008, as amended, and
paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby advised
that the Company has received formal notification in the prescribed form from Caleo, advising
that it has acquired a beneficial interest in securities of the Company, such that the total of all
beneficial interests held by it amounts to 20.00% of the Company’s total issued ordinary share
capital.

Johannesburg
27 November 2020

Designated Advisor
PSG Capital

Date: 27-11-2020 11:30:00
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