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NUTRITIONAL HOLDINGS LIMITED - Subscription Agreement

Release Date: 15/01/2016 16:35
Code(s): NUT     PDF:  
Wrap Text
Subscription Agreement

NUTRITIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2004/002282/06)
Share code: NUT ISIN: ZAE000156485
(“the Company” or “NUT”)

SUBSCRIPTION AGREEMENT

Shareholders are referred to the terms announcement published
by the Company dated 16 November 2015 relating to a
subscription of 1 500 000 000 shares for R39 500 000 in cash
with the Imisebeyelanga Nazareth Baptist Church Trust
(“Subscriber”) (“the Subscription”) by way of a general issue
of shares for cash.

Shareholders are hereby advised that all the conditions
precedent to the Subscription were fulfilled, other than the
funds being transferred into the Company’s bank account and
approval of the issue of NUT shares by the JSE Limited, prior
to 31 December 2015.

The board has been actively engaging with the Subscriber
regarding the transfer of funds and despite having placed the
Subscriber in breach, in terms of the Subscription Agreement,
payment has not been forthcoming. The breach period has
expired today leaving the board with no other option but to
cancel the Subscription Agreement.

Shareholders will be updated of progress made in the Company’s
fund raising efforts in due course.

15 January 2016

Umhlanga

Designated Advisor: PSG Capital Proprietary Limited

Date: 15/01/2016 04:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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