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Fulfillment of conditions precedent in relation to the issue of shares for cash
GLOBAL ASSET MANAGEMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/003192/06)
Share Code: GAM ISIN: ZAE000173498
("Global" or “the Company”)
FULFILLMENT OF CONDITIONS PRECEDENT IN RELATION TO THE ISSUE OF SHARES FOR CASH TO
AFRICAN RAINBOW CAPITAL PROPRIETARY LIMITED (‘ARC”)
Shareholders are referred to the announcement released on 12 May 2017, where
shareholders were advised that many of the conditions precedent relating to the subscription
of Global shares by ARC under the Company’s general authority to issue shares for cash have
been fulfilled or waived.
The Global board is pleased to announce that all the conditions precedent have now been
either fulfilled or waived, including the receipt of R20,500,000 from Futuregrowth Asset
Management Proprietary Limited, representing Old Mutual Life Assurance Company (South
Africa) Limited, to be invested in Plastics Green Energy Proprietary Limited as announced on
1 August 2014. As such, the transaction has been concluded. The proceeds of the ARC
subscription, totaling R40 000 000 will be invested in various renewable and clean energy
projects which Global is undertaking. This is in line with its medium term strategy at the time of
its listing on the JSE.
As part of the agreement, ARC will also nominate two directors to the Global board. A further
announcement in this regard will be made in due course.
By order of the board
Johannesburg
24 May 2017
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
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