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Extension of Time for Posting of Mosegedi Circular
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“the Company” or “Visual”)
ISIN Code: ZAE000187407 Share code: VIS
EXTENSION OF TIME FOR POSTING OF MOSEGEDI CIRCULAR
Shareholders are referred to the announcement released on SENS on 1 March 2017 in
which they were advised that Visual reached an agreement with the shareholders of
Mosegedi & Associates Proprietary Limited (“Mosegedi”) for the acquisition of 50.1% of the
issued share capital of Mosegedi in two phases and approval of an option by way of
specific authority to issue shares for cash. Phase two of the Mosegedi acquisition is a
Category 1 transaction and requires shareholder approval.
Grant Thornton was recently appointed as auditor to both Visual and Mosegedi. The
annual financial statements of Mosegedi for the two years ended 28 February 2017 and
29 February 2016 have to be prepared in accordance with full International Financial
Reporting Standards (“IFRS”) which information is also required for the circular to
shareholders.
The Mosegedi audit is taking longer than expected, with the audit being for two years. This
has had a direct impact on the finalisation of the circular to shareholders, which can only
be approved by the JSE once this information has been received.
Visual shareholders are advised that the JSE has accordingly granted the Company a
further extension to 30 June 2017 to post the required circular.
The Company will publish a further SENS announcement should there be any changes to
this date.
Cape Town
8 June 2017
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
Date: 08/06/2017 09:26:00 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
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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.
