To view the PDF file, sign up for a MySharenet subscription.

ALVIVA HOLDINGS LIMITED - Notice in terms of section 45(5) of the Companies Act, 71 of 2008, as amended (the Act) for the granting of financ

Release Date: 17/03/2017 14:10
Code(s): AVV     PDF:  
Wrap Text
Notice in terms of section 45(5) of the Companies Act, 71 of 2008, as amended (the “Act”) for the granting of financ

Alviva Holdings Limited
(Formerly Pinnacle Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1986/000334/06
Share Code: AVV
ISIN: ZAE000227484
(“Alviva” or “the Company”)


NOTICE IN TERMS OF SECTION 45(5) OF THE COMPANIES ACT, 71 OF 2008, AS AMENDED
(THE “ACT”) FOR THE GRANTING OF FINANCIAL ASSISTANCE


In terms of section 45(5)(a) of the Act, notice is hereby given that the board of directors of Alviva,
pursuant to a board resolution adopted on 22 February 2017, authorised the Company to provide
financial assistance as detailed below, to certain of its subsidiary companies pursuant to the authority
granted to the board by shareholders at the annual general meeting of the Company held on 25
November 2016.


The board of directors, before authorising the Company to provide the financial assistance in terms of
section 45 of the Act, has satisfied itself that:
     . immediately after providing the financial assistance, the Company satisfied the solvency and
        liquidity test contemplated in section 4 of the Act;
     . there has been due compliance with the requirements of the Company’s               constitutional
        documents and other founding documents and with the Act; and
     . the terms upon which financial assistance is to be given are fair and reasonable to the
        Company.


The provision of financial assistance arose as a result of the Company being required, from time to
time, in the ordinary course of business, to sign parental company guarantees to enable its subsidiary
companies to purchase IT and other products on credit as follows:
     . Huawei International Co. Limited – US$15 000 000 (Fifteen million United States dollars);
     . IBM South Africa Proprietary Limited – US$20 000 000 (Twenty million United States dollars);
     . Micro Focus Software (Ireland) Limited - US$35 000 000 (Thirty-five million United States
        dollars); and
     . Lenovo PC HK Limited – US$26 000 000 (Twenty-six million United States dollars).


Midrand
17 March 2017


Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

Date: 17/03/2017 02:10:00 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.

Share This Story