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VISUAL INTERNATIONAL HOLDINGS LIMITED - Change to visuals listing date

Release Date: 02/04/2014 13:22
Code(s): VIS     PDF:  
Wrap Text
Change to visual’s listing date

VISUAL INTERNATIONAL HOLDINGS LIMITED
(Formerly Presto Financing Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“the Company” or “Visual”)
ISIN Code: ZAE000187407 Share code: VIS

CHANGE TO VISUAL’S LISTING DATE


Shareholders are advised that, in accordance with the requirements of the Johannesburg
Stock Exchange, the Company may only proceed with the listing once all properties have
been transferred into the group and it has met the spread requirements for listing, as set
out in the prospectus.

The Company is pleased to advise that the spread requirements and minimum
subscription requirements as specified by the JSE have been well exceeded. The results
of the offer are being finalised and will be announced in due course.

However, there has been a delay in the issuance of the rates clearance certificate for the
smallest property, Erf 24258 Kuils River, which property was sold by an inter-related
party to the group. The Company is pleased to advise that it is now receiving assistance
from the City of Cape Town to get the rates clearance certificate issued. The delay is not
expected to be protracted.

The Company is pleased to advise that the two large properties, Erven 18363 and 18358
and Remainder Farm 1286, Kuils River have already been transferred to the group.

Applicants who have applied for shares through stockbrokers will continue to retain the
amount in their stockbroker accounts and earn interest at the rate agreed between
themselves and their stockbroker until the date of listing of the Company. Investments
received through Prescient Wealth Management will earn interest until the day before
listing at the same rate of interest that the Company secures from the bank.

The confirmation of the date of listing will be announced in due course.

By order of the Board
Johannesburg
2 April 2014

Designated Advisor                                   Auditor and Reporting Accountants
Arcay Moela Sponsors                                            Baker Tilly Greenwoods

Lead Funding Arranger                                                  Property Valuer
Prescient Wealth Management                                  Adval Valuation Centre cc

Attorneys                                                                  Stockbroker
Van Der Merwe & Robertson                                                Imara SP Reid

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