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Withdrawal of Cautionary Announcement - LHL01, LHL02, LHL03, LHL13
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
JSE Bond Code:LHL01 ISIN No.ZAG000101908
JSE Bond Code:LHL02 ISIN NO.ZAG000101916
JSE Bond Code:LHL03 ISIN No.ZAG000101924
JSE Bond Code:LHL13 ISIN No.ZAG000129719
(“Letshego Holdings” or “the Company”)
This announcement is being released on the Johannesburg Stock Exchange for
information purposes only in respect of Letshego Holdings Limited’s Note
Programme
Letshego Holdings Limited (“Letshego” / “the Company”) was incorporated in
1998, is headquartered in Gaborone and has been publicly listed on the
Botswana Stock Exchange (BSE) since 2002. It is a holding company with
consumer and micro lending subsidiaries across nine countries in Southern and
East Africa - Botswana, Kenya, Lesotho, Mozambique, Namibia, Rwanda,
Swaziland, Tanzania and Uganda. Letshego has deposit taking licenses in
Mozambique, Rwanda and Tanzania.
Shareholders are advised that the transaction in Nigeria, as communicated to
Shareholders on 24 July 2015 and updated on 8 September 2015 and 28 October
2015 is now substantially complete after obtaining preliminary regulatory
approvals in Nigeria.
Therefore the Board of Directors would like to update Shareholders that the
Company is looking to become the 100% shareholder of FBN Microfinance Bank
Limited (FBN MFB), a deposit taking financial institution that specializes in
micro finance. This is subject to obtaining final regulatory approval and the
completion of the remaining conditions precedent.
FBN MFB has a national license in Nigeria, operates a branch network of 28
customer access points, has a staff compliment of over 300 a depositor base
of 80,000 customers and a loan customer base of over 10,000. It will be
rebranded to Letshego MFB during 2016.
The Board expects that all remaining regulatory approvals and conditions
precedent will be finalized shortly. Therefore, Shareholders are advised
that exercising caution when dealing in the Company’s securities is no longer
required.
For and on behalf of the Board of Directors
J A Burbidge A C M Low
Group Chairman Group Managing Director
GABORONE, Wednesday, 7 December 2015
Debt sponsor in South Africa
The Standard Bank of South Africa Limited, acting through its Corporate and
Investment Banking division
Sponsoring broker in Botswana
Stockbrokers Botswana Limited
Date: 07/12/2015 05:33:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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