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ONELOGIX GROUP LIMITED - Repurchase of shares from Izingwe: No material change statement and trading update

Release Date: 09/12/2013 09:02
Code(s): OLG     PDF:  
Wrap Text
Repurchase of shares from Izingwe: No material change statement and trading update

ONELOGIX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/004519/06)
JSE share code: OLG ISIN: ZAE000026399
(“OneLogix” or “the company”)


REPURCHASE OF SHARES FROM IZINGWE: NO MATERIAL CHANGE STATEMENT AND TRADING UPDATE


Shareholders are referred to the announcement released on SENS on 25 September 2013 and the circular
posted to shareholders on 13 November 2013 (the “circular”), containing the terms relating to a
repurchase of shares from Izingwe Holdings Proprietary Limited (“Izingwe”), where it was detailed that
the company had entered into an agreement with Izingwe which currently holds 10.25% of the issued share
capital of company and is a related party to OneLogix, to repurchase all 23 750 000 of the OneLogix
shares held by Izingwe (“Izingwe repurchase”).

For the purposes of providing shareholders with information relating to the company’s financial and
trading position, in anticipation of the general meeting to be held on Thursday, 12 December 2013 for the
purposes of considering and if deemed fit, passing the special resolution required to implement the
Izingwe repurchase, shareholders are hereby advised that:

 i.   subject to (ii) below, the board is not aware of any circumstances which may result in any material
      change in the expected financial or trading position of the OneLogix group since 13 November 2013,
      being the date of issue of the circular; and
ii.   based upon information within the knowledge of the board, at this time, the company is reasonably
      satisfied that the interim financial results for the six months ended 30 November 2013 will be
      between 20% and 30% higher on a headline earnings per share level compared to the six months
      ended 30 November 2012, whilst earnings per share are expected to be in line with the six months
      ended 30 November 2012 primarily due to the disposal of the company’s interest in Magscene in that
      period.

The financial information on which this announcement has been provided, is based on the company’s
management accounts which have not been reviewed or reported on by the company’s auditors.

The company is cognisant of its requirements under paragraph 3.4(b) of the JSE Listings Requirements to
publish a trading statement as soon as the company is satisfied that a reasonable degree of certainty exists
that the financial results for the six months ended 30 November 2013 will differ by at least 20% from the
financial results for the previous corresponding period.

The board of OneLogix accepts full responsibility for the information given in this announcement and
confirms that the board is not aware of any facts that have been omitted which would make any statement
in this announcement false or misleading.

9 December 2013


Corporate advisor and sponsor
Java Capital
Date: 09/12/2013 09:02:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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