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FONEWORX HOLDINGS LIMITED - Withdrawal of cautionary announcement

Release Date: 27/05/2013 12:45
Code(s): FWX     PDF:  
Wrap Text
Withdrawal of cautionary announcement

FONEWORX HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1997/010640/06)
Share code: FWX ISIN: ZAE000086237
(“FoneWorx” or “the Company”)


WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT



Shareholders are referred to the cautionary announcement dated 12 July 2012, the subsequent
renewal of cautionary announcements, the last of which was dated 19 April 2013, and are advised
that the transaction between the Company and the Value+ Nettwork Proprietary Limited
(“Value+”) has been terminated by mutual consent and all disputes between the Company, Value+
and The Isaac and William Kirsh Family Trusts (“Kirsh Family”) have been resolved. The Kirsh
Family's stake in the Company comprising of 44.5 million shares of the Company’s issued share
capital (32.7% of the Company) has been acquired by Caxton and CTP Printers & Publishers
Limited with effect from 30 May 2013 for a purchase consideration of R102.5 million and based on
a per share price of the Company of R2.30 per share.

It is accordingly no longer necessary to exercise caution when dealing in the Company’s securities.


Johannesburg
27 May 2013

Designated Adviser
Merchantec Capital

Attorneys to Foneworx Holdings Limited
Fluxmans Inc.

Transaction Advisor to Value+ Nettwork and
The Isaac and William Kirsh Family Trusts
Neil Lazarus SC

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