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BILETS - Letshego Holdings Limited - Withdrawal of cautionary

Release Date: 04/11/2011 15:00
Code(s): JSE
Wrap Text

BILETS - Letshego Holdings Limited - Withdrawal of cautionary announcement 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 Withdrawal of cautionary announcement Letshego, a leading provider of unsecured consumer loans, is listed on the Botswana Stock Exchange, is IFSC accredited and has operations in Botswana, Mozambique, Namibia, Swaziland, Tanzania, Uganda and Zambia. The Board of Directors of the Company issued a cautionary announcement to shareholders on 1 September 2011 informing them that Letshego Financial Services (Pty) Limited (`Letshego Botswana`), a material subsidiary of Letshego Holdings, became aware on 31 August 2011 of the intention of the Government of the Republic of Botswana to cease facilitating the deduction of Micro Lenders loan repayments from source effective 1 December 2011. This cautionary announcement was renewed on 21 September 2011 and again on 12 October 2011. The Board of Directors noted that should this revocation come into effect Letshego Botswana will use alternative methods for the collection of contractual monthly loan repayments and that it is engaging with the relevant authorities to obtain more clarity and a resolution to this matter. On 3 November 2011, the Board of Directors was informed by the central registry that the 1 December 2011 deadline for termination of services has been put on hold until the review process between the relevant stakeholders is complete. Normal central registry operations have resumed and the 1 December 2011 deadline is no longer applicable. Accordingly, Shareholders are advised that caution when dealing in the shares of the Company is no longer necessary. Gaborone 4 November 2011 Debt sponsor in South Africa Renaissance BJM Securities (Pty) Ltd Sponsoring broker in Botswana Stockbrokers Botswana Limited Date: 04/11/2011 15:00:01 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.

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