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Voluntary market update and renewal of cautionary announcement
Sherbourne Capital Limited
(Previously trading as IFCA Technologies Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2006/030759/06)
Share code: SHB ISIN: ZAE000165403
(“Sherbourne” or “the Company”)
VOLUNTARY MARKET UPDATE
The Board of Directors of Sherbourne Capital Limited (“Sherbourne”) are pleased to announce the
conclusion of a Memorandum of Agreement with Inshare (Pty) Ltd (“Inshare”). This agreement includes,
but is not limited to, the potential acquisition of 100% of the total ordinary issued shares in Inshare Asset
Finance Holdings (Pty) Ltd (“IAFH”) in exchange for Sherbourne ordinary shares.
IAFH is a holding company that secures and coordinates the financial needs of businesses with assets or
projects requiring financial instruments to meet their specific financial obligations, against prescribed
terms or off-take agreements. It is intended that the structuring, hosting, facilitation, implementation and
management of the asset or project finance needs, be conducted within Sherbourne. The funding for
these structures and instruments will be sourced and coordinated through Sherbourne with its network of
financial institutions, investors, vendors, international funds and various shareholders. This will allow
Sherbourne to become a conduit to secure arbitrage margin, mezzanine participation, dated exits and
future rights to convert privately owned companies into listings and to stay involved at a strategic level
with companies for future expansion, restructuring or investments.
Included in IAFH’s portfolio is a company, Linde Financial Services (Pty) Ltd (“Linde”), Linde has secured
a significant fleet of forklifts, rented to blue chip companies over extended periods with a significant
second hand market rental opportunity as well as exporting to the SADEC countries.
A second structure included in IAFH since February 2012, is the Africa rights for the sale of energy saving
devices of German origin, warranted to reduce energy consumption up to pre-defined minimums, being
as much as 25%. It is intended that Sherbourne will assist with the financial needs to expand and roll-out
financial instruments to secure these opportunities within rental structures and off-take agreements.
A third structure under review by Inshare and Sherbourne is with an international waste management
group, to build and deploy a waste management plant with substantial guarantees and off-take
agreements in support of government’s objectives. It is intended that Sherbourne will assist with the
structuring, securing and hosting of the required financial mechanisms to meet the terms of the financing
institutions based on the off-take agreements.
Inshare intends to collaborate with Sherbourne in structuring local and international funding initiatives,
both in South Africa and the SADEC countries, creating more opportunities.
Strategically, Sherbourne also intends to use its listed structure to raise capital and to facilitate the
participation of large individual investors and institutions in specific investments with options to convert to
listed shares.
All transactions stated above are subject to the normal terms and conditions pertaining to transactions of
this nature, which include, inter alia, due diligence investigations as well as shareholder and regulatory
approvals.
Shareholders will be kept informed of all future developments regarding the above transactions.
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement published on 10 August 2012, shareholders are advised that the
Company has entered into negotiations which if successfully concluded may have a material effect on the
price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when
dealing in the Company’s securities until a further announcement is released.
Sandton
Designated Adviser: Bridge Capital Advisors (Pty) Limited
10 September 2012
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