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Update Announcement - LHL01/LHL02/LHL03
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
(“Letshego Holdings” or “the Company”)
This announcement is being released on the Johannesburg Stock Exchange
for information purposes only in respect of Letshego Holdings
Limited’s Note Programme
UPDATE ANNOUNCEMENT
Letshego Holdings Limited (the Company) was incorporated in 1998, is
headquartered in Gaborone and has been publicly listed on the Botswana
Stock Exchange (BSE) since 2002. It is a holding company with
financial service subsidiaries across nine countries in Southern and
East Africa - Botswana, Kenya, Lesotho, Mozambique, Namibia, Rwanda,
Swaziland, Tanzania and Uganda.
This update announcement is to provide Shareholders further
information to that provided in the announcement to Shareholders on 23
February 2015 regarding an anonymous email that was circulated on 20
February 2015 to a number of media, investors and other third parties.
The anonymous email contained certain allegations against the Company
and its management team.
In the announcement, dated 23 February 2015, which was issued through
the BSE X-News in respect of the allegations, the Board undertook to
conduct an independent investigation of matters raised in the email
through an oversight Special Board Committee.
The Special Board Committee commissioned KPMG Chartered Accountants
Botswana (KPMG) to investigate and report on the allegations. This
investigation was based on information provided by the Company and
scope agreed with the Special Board Committee. Based on the report of
factual findings from KPMG, the Board concluded that all the
allegations are unfounded and are without merit.
The Board takes this opportunity to state for the record that it has
full confidence in its Group Managing Director and his team and their
ability to execute on the agreed strategic journey. Furthermore, the
Board affirms that the Company supports the principles on ‘whistle
blowing’ and that a number of internal channels are available to staff
including an ‘ethics hotline’ that is independently operated by a firm
of consultants for use by any member of staff or stakeholder if they
wish to raise concerns anonymously.
For and on behalf of the board
J Burbidge
Chairman
18 May 2015
Debt sponsor in South Africa
The Standard Bank of South Africa Limited,
acting through its Corporate and Investment Banking division
Sponsoring broker in Botswana
Stockbrokers Botswana Limited
Date: 18/05/2015 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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