JDH - John Daniel Holdings Limited - JDH voluntary announcement in relation to

JDH - John Daniel Holdings Limited - JDH voluntary announcement in relation to  
Viscacom Funding Facility                                                       
JOHN DANIEL HOLDINGS LIMITED                                                    
(Incorporated in the Republic of South Africa)                                  
(Registration Number 1998/013215/06)                                            
Share code: JDH    ISIN: ZAE 000136677                                          
("JDH" or "the Company")                                                        
JDH VOLUNTARY ANNOUNCEMENT IN RELATION TO VISCACOM FUNDING FACILITY             
The board of directors is pleased to advise that JDH Financial Services         
through Viscacom (Proprietary) Limited ("Viscacom"), has secured a funding      
facility of R3 000 000 from Chester Finance (Pty) Ltd ("Chester").              
Viscacom is a registered Credit Provider and the bridging facility is to        
facilitate growth in this division. Viscacom became a subsidiary of the         
Company on 1 September 2011.                                                    
The funding is short term bridging funding allowing the business to continue    
the rapid growth in the debtor`s book.                                          
The terms of the facility are as follows:                                       
-    R500 000 maximum monthly draw;                                             
-    available monthly for a maximum of 6 months;                               
-    interest and capital to be repaid over a 6 month period for each loan      
    drawdown; and                                                               
-    effective total loan term period is 12 months.                             
The following security will be provided:                                        
-    cession of the debtors` loan book;                                         
-    guarantee by JDH;                                                          
-    guarantee by Escalator Capital Limited, JDH`s controlling shareholder;     
-    undertaking by JDH not to reduce its current inter group loan owing by     
Viscacom below R8 million as well as a subordination of the loan account    
    to the claim of Chester;                                                    
-    covenant in Viscacom not to reduce its Net Current Assets below R4.5       
    million; and                                                                
-    negative pledge i.e. no encumbrances over any assets or guarantees and or  
    surety ships of /or by Viscacom without the prior written consent of        
    Chester.                                                                    
Johannesburg                                                                    
11 May 2012                                                                     
Sponsor                                                                         
Arcay Moela Sponsor (Pty) Ltd                                                   
Date: 11/05/2012 09:30:00 Supplied by www.sharenet.co.za                     
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