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Cautionary Announcement
Atlantic Leaf Properties Limited
(Incorporated in the Republic of Mauritius on 11 November 2013)
(Registration number: 119492 C1/GBL)
SEM share code: ALPL.N0000
JSE share code: ALP
ISIN: MU0422N00009
(“Atlantic Leaf” or “the company”)
CAUTIONARY ANNOUNCEMENT
The Board of Directors of Atlantic Leaf wishes to inform its shareholders and the public in general that as a
result of a proposed private placement of 10 000 000 new Atlantic Leaf shares (“New Shares”) which
shares will be issued through the company’s Mauritian share register (the “Private Placement”), one of the
investors participating in the Private Placement (the “Controlling Shareholder”) is expected to hold
65.38% of the voting shares of the company after the issue of the New Shares, resulting in it effectively
controlling Atlantic Leaf. This result is a consequence typical of newly-formed companies in their initial
capital raising phase, and the Controlling Shareholder’s shareholding is expected to be diluted over time as
the company raises further equity capital from other investors.
Effective control is defined in Rule 2 of the Mauritian Securities (Takeover) Rules 2010 as the holding of
securities by any person which will result in that person having the right to exercise more than 30% of the
rights attached to the voting shares of an entity.
Following implementation of the Private Placement, Rule 33(2) of the Mauritian Securities (Takeover)
Rules 2010 will be triggered and the Controlling Shareholder will be required to make a mandatory offer in
accordance with these Rules, on all voting shares of the company held by the minority shareholders.
However, the company has made an application to the Financial Services Commission in Mauritius under
Rule 42 of the Securities (Takeover) Rules 2010, for an exemption from Rule 33(2) in the case of the above
Private Placement on the basis that since Atlantic Leaf has been recently incorporated and is still in its initial
capital raising phase.
The shareholders and the investing public are advised to exercise caution when dealing in the shares of
Atlantic Leaf and will be kept informed of further developments in respect of this matter.
Atlantic Leaf has its primary listing on the Stock Exchange of Mauritius Limited and a secondary listing on
the Alternative Exchange of the JSE Limited.
By Order of the Board
For further information please contact:
South African joint corporate advisor and JSE sponsor
Java Capital +27 11 280 0042
South African joint corporate advisor
Leaf Capital +27 21 657 1180
Corporate secretary
Intercontinental Trust Limited +230 403 0800
3 April 2014
This notice is issued pursuant to SEM Listing Rule 11.3 and Rule 12 of the Securities (Takeover) Rules 2010.
The Board of Directors of Atlantic Leaf Properties Limited accepts full responsibility for the accuracy of the information contained in this
announcement.
Date: 03/04/2014 03:09:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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