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SFH - S A French Limited - Further cautionary announcement

Release Date: 26/01/2011 16:10
Code(s): SFH
Wrap Text

SFH - S A French Limited - Further cautionary announcement S A FRENCH LIMITED Incorporated in the Republic of South Africa (Registration number: 1982/009174/06) Share code: SFH ISIN: ZAE000108890 ("SA French" or "the company") FURTHER CAUTIONARY ANNOUNCEMENT Further to the cautionary announcement contained in the SENS announcement dated 13 December 2010, shareholders are advised that SA French is still involved in negotiations which, if successfully concluded, may have a material effect on the price of the company`s securities. In December 2010 and January 2011, SA French signed two loan agreements for R5m and R2.5m, respectively, with AfrAsia Corporate Finance (Proprietary) Limited ("AfrAsia Corporate Finance"). The loans are the initial part of a longer-term solution to the company`s financing requirements, which have facilitated debt restructuring agreements with the company`s existing bank group, the settlement of outstanding Provident Fund contributions, and have also provided SA French with the working capital required to deliver on a large new order. Further details on the debt restructuring will be provided in due course. Accordingly, shareholders are advised to continue exercising caution when dealing in the company`s securities until a further announcement is made. AfrAsia Corporate Finance is a Cape Town based associate of AfrAsia Bank Limited, a boutique bank headquartered in the Mauritian International Financial Services Center. AfrAsia Corporate Finance provides financial advisory and capital raising solutions to clients in connection with mergers and acquisitions, restructurings and other strategic matters. AfrAsia Corporate Finance also manages investment funds that integrate capital with its advisory capabilities. Johannesburg 26 January 2011 Designated Adviser Merchantec Capital Date: 26/01/2011 16:10:02 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.

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