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Trading Update
Gaia Infrastructure Capital Limited
(previously Gaia Capital Proprietary Limited)
Incorporated in the Republic of South Africa
Registration number 2015/115237/06
Share Code: GAI
ISIN ZAE000210555
(“Gaia” or “the Company”)
TRADING UPDATE
GAIA listed on the main board of the JSE on 12 November 2015 as a
special purpose acquisition company (“SPAC”) following the successful
raising of R551.5 million at R10.00 per ordinary share by way of a
private placement.
As at 29 February 2016, the unaudited net asset value (“NAV”) per
share of the Company amounted to R9.97, which consists entirely of
cash and cash equivalents held in Escrow by the Escrow Agent as per
paragraph 4.36 of the JSE Limited listings requirements (“Escrow
Funds”). Other than accruals for trade and other payables incurred in
the ordinary course of business, the Company has no liabilities or
contingent liabilities outstanding that might impact the NAV per
share.
Shareholders are hereby notified that the GAIA board of directors has
resolved to transfer the Escrow Funds from the Coronation Jibar Plus
Fund to the more liquid Coronation Money Market Fund, ensuring that
the Escrow Funds are readily available should the Company need to draw
on the funds for the acquisition of viable assets, as more fully
described in their Pre-Listing Statement.
As referred to in the cautionary announcement dated 24 February 2016,
GAIA is progressing with discussions which, if successfully concluded,
may have a material effect on the price of the Company’s securities.
14 March 2016
Cape Town
Sponsor
PSG Capital Proprietary Limited
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