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Further details regarding discussions with a potential B-BBEE investor and further cautionary announcement
Sasfin Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1987/002097/06)
Ordinary share code: SFN ISIN: ZAE000006565
Preference share code: SFNP ISIN: ZAE000060273
(“Sasfin” or “the Company”)
FURTHER DETAILS REGARDING CAUTIONARY ANNOUNCEMENTS RELEASED BY SASFIN
ABOUT DISCUSSIONS WITH A POTENTIAL BROAD-BASED BLACK ECONOMIC EMPOWERMENT
(“B-BBEE”) INVESTOR AND FURTHER CAUTIONARY ANNOUNCEMENT
In the cautionary announcement published on 1 November 2016 and the cautionary announcement
renewals published on 13 December 2016, 30 January 2017 and 13 March 2017, Sasfin shareholders
(“Shareholders”) were advised that the Company was in discussions with a potential B-BBEE investor.
Shareholders are advised that, following the successful conclusion of a due diligence on the Sasfin
group, Women Investment Portfolio Holdings Limited ("WIPHOLD") has confirmed its interest
(“Expression of Interest”) to conclude a transaction with Sasfin upon implementation of which,
WIPHOLD will hold 25.1% of the ordinary shares in the issued capital of Sasfin (“Transaction”).
WIPHOLD is a prominent B-BBEE investment and operating group in South Africa and is majority
owned and managed by black women.
WIPHOLD’s Expression of Interest is fully funded and Sasfin has granted WIPHOLD exclusivity over a
reasonable period of time to implement the Transaction. The Transaction is subject to, inter alia:
- the conclusion of binding formal agreements required to give effect to the Transaction (“Definitive
Agreements”); and
- the receipt of all and any required directors’, shareholders’, governmental and regulatory (including
that of the South African Reserve Bank) approvals required to give effect to the Transaction /
Definitive Agreements.
As the parties have not concluded the Definitive Agreements embodying the terms and conditions of the
Expression of Interest, Shareholders are advised to continue exercising caution when dealing in the
Company’s securities until a further announcement with regard to the Transaction is made.
Johannesburg
16 March 2017
Corporate Adviser and Lead Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Independent Sponsor
KPMG Services Proprietary Limited
Legal Adviser to Sasfin
Edward Nathan Sonnenbergs Incorporated
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