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Shareholder update
African Dawn Capital Limited
Incorporated in the Republic of South Africa
(Registration Number: 1998/020520/06)
JSE share code: ADW
ISIN: ZAE000060703
(the “Company")
SHAREHOLDER UPDATE
Shareholders are referred to the announcement dated 15 October 2013,
wherein the Company’s short term strategy was set out. In addition,
shareholders are referred to the announcement dated 7 April 2014,
wherein it was announced that the Company successfully raised R21,8
million by way of a rights offer.
The board is pleased to advise that the following progress has been made
in the implementation of the stated strategy to become an active
investment holding company:
1. The acquisition of deal sourcing, investment management, advisory and
business building capabilities and investee mentorship programmes with
the successful conclusion of the acquisition of Knife Capital
Proprietary Limited on 27 March 2014;
2. The establishment of a new executive management team.
3. The recapitalisation of the Company by way of the rights offer; and
4. The reduction in head office overheads through the restructuring of
the Company which will be fully reflected in the financial year to
February 2015.
The rebranding of the company and the establishment of investment
committee will follow shortly.
The board will continue its strategy of divesting from non-core assets
and operations that will further enable the company to invest in
innovative entrepreneurial companies. Shareholders will be advised as to
any progress in this regard.
The board would like to thank those shareholders who followed their
rights in terms of the recent rights offer for their continued support
of the Company.
Johannesburg
10 April 2014
Designated Advisor
Sasfin Capital
(a division of Sasfin Bank Limited)
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