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UBUBELE HOLDINGS LIMITED - Cautionary Announcement

Release Date: 28/07/2014 17:42
Code(s): UBU     PDF:  
Wrap Text
Cautionary Announcement

UBUBELE HOLDINGS
Incorporated in the Republic of South Africa
(Registration number: 1998/011074/06)
Share code: UBU
ISIN Code: ZAE000144739
(“Ububele” or “the Company”)

CAUTIONARY ANNOUNCEMENT

Shareholders are hereby advised that it has become apparent
that the capital raised during the recent rights issue in
April 2014 falls short of the ongoing funding needs of the
companies in the Ububele Group (“the Group”). Hence the
Ububele board of directors has engaged in negotiations with
certain larger shareholders and the Land Bank (as principal
financier of the Group) regarding a restructuring of debt and
equity resources, aimed at putting in place adequate funding
for these operations. These shareholders have indicated their
willingness to provide further funding, subject to the Land
Bank agreeing to the restructuring proposals and subject to
the necessary regulatory approvals.

Shareholders are advised that the negotiations may have a
material effect on the price of the Company’s securities and
accordingly are advised to exercise caution in dealing with
their securities until a further announcement is made.

28 July 2014
Cape Town

Designated Adviser
PSG Capital

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