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BILETS - Letshego Holdings Limited - Trading Notice: Acquisition of majority shareholding in Micro Africa Limited Letshego Holdings Limited Incorporated in the Republic of Botswana Registration number 98/442 ("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 TRADING NOTICE: Acquisition of majority shareholding in Micro Africa Limited Letshego Holdings is a leading provider of unsecured consumer loans to formally employed individuals, is listed on the Botswana Stock Exchange, is IFSC accredited and has operations in Botswana, Mozambique, Namibia, Swaziland, Tanzania, Uganda and Zambia. In line with the Pan-African expansion plans of the Letshego Group, shareholders are advised that the Group is in the process of acquiring a 62.52% interest in the issued share capital of Micro Africa Limited ("MAL"), a private company incorporated in Kenya. MAL is an established company that has been operating in Kenya since 2000 with subsidiaries in Rwanda, South Sudan and Uganda and an associated company in Tanzania. MAL operations are the provision of secured and unsecured personal, SMME and Group loans. MAL`s management team has successfully introduced products involving the perfecting of security, over the counter cash handling for loan transactions and mobile banking technology. The effective date of the acquisition is expected to be 31 October 2011 but this is subject to all necessary formalities being concluded. MAL has a loan book of USD7.2 million, 21 branches and a customer base of over 17,000. The net assets` of the company were USD4.1 million at 30 June 2011. MAL`s profit after tax was USD331,000 for the year ended 31 December 2010. The purchase price is USD3.3 million and this is being met from the Group`s existing resources. MAL is not expected to contribute significantly to the Group`s financial results for the year ending 31 January 2012 but is a welcome addition to the Letshego Group and is expected to contribute to the Group profitability, geographical diversification of earnings, product offering and technology skills set over time. Gaborone 21 September 2011 Debt sponsor in South Africa Renaissance BJM Securities (Pty) Ltd Sponsoring broker in Botswana Stockbrokers Botswana Limited Date: 21/09/2011 16:03:01 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.
