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ARDOR SA LIMITED - Update Announcement on the Reverse Listing of Ardor SA Limited and the Various Acquisitions and Cautionary Announcem

Release Date: 19/11/2012 07:46
Code(s): ARD     PDF:  
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Update Announcement on the Reverse Listing of Ardor SA Limited and the Various Acquisitions and Cautionary Announcem

Ardor SA Limited
(formerly Decillion Limited)
(Registration number: 1998/011692/06)
(Incorporated in the Republic of South Africa)
JSE code: DEC   ISIN: ZAE000108247
("Decillion" or "the Company")


UPDATE ANNOUNCEMENT ON THE REVERSE LISTING OF ARDOR SA LIMITED AND
THE VARIOUS ACQUISITIONS AND CAUTIONARY ANNOUNCEMENT


The Company advises that it is still in the process of securing
cash from various subscribers in order to provide guarantees to
enable the transfer of the various properties to be lodged with
the deeds office. Shareholders and investors are reminded that the
listing remains subject to the transfer of the minimum portfolio.

The salient dates for the issue and listing of the new shares in
Ardor SA Limited will be announced once the transfer of the
minimum portfolio has been finalised.

As   previously  announced   investors   and/or  shareholders  are
permitted to continue to subscribe for shares up to the date of
the listing of the securities for purposes of the reverse listing.
The Company has received substantial interest in excess of the
R900 million maximum subscription, with a couple of parties
expressing interest in securing a control of Ardor but the board
still has to finalise these subscriptions.

The Company will keep shareholders informed of progress made, the
final results of the subscription and new salient dates.

Due to the revival negotiations previously announced and the
requirement for the minimum portfolio to be transferred to the
Company ahead of listing, shareholders are advised to continue to
exercise caution when dealing in their shares until a further
announcement is made.

Johannesburg
19 November 2012

SPONSOR
Arcay Moela Sponsors (Proprietary) Limited

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