DIGICORE HOLDINGS LIMITED - Updated Detailed Cautionary Announcement

Release Date: 05/06/2015 08:00
Code(s): DGC
 
Wrap Text
Updated Detailed Cautionary Announcement

DIGICORE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/012601/06)
Share Code:   DGC
ISIN Number: ZAE000016945
(“the Company” or “DigiCore”)

UPDATED DETAILED CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the cautionary announcement
released on SENS on 7 May 2015.

Shareholders are hereby advised that the Company has entered
into negotiations with Novatel Wireless, Inc.(“Novatel”), in
relation to a proposed transaction in terms of which Novatel
wishes to acquire all shares in DigiCore for a purchase
consideration of R4 per DigiCore share  (“Proposed
Transaction”).

Novatel is a company listed on the NASDAQ in the United States
of America (“USA”) and is in the process of finalising its
funding of the Proposed Transaction. In order for Novatel to
comply with legislation in the USA, it has published details
of the Proposed Transaction.

In addition, shareholders are advised that substantial due
diligence has already been conducted by Novatel and no
material issue has been identified.

Even though negotiations are at an advanced stage,
shareholders are cautioned that no final binding agreement has
been concluded with Novatel in relation to the implementation
of the Proposed Transaction (or firm intention offer received)
and there is no certainty that the negotiations or a final
binding agreement will be successfully concluded (or firm
intention offer received). Accordingly, shareholders are
advised to continue to exercise caution when dealing in the
Company’s securities until a further announcement is made.

5 June 2015
Centurion

Corporate Advisor & Sponsor
PSG Capital Proprietary Limited

Date: 05/06/2015 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story