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MIC investment in Metrofile
Metrofile Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/012697/06)
Share code: MFL
ISIN Code: ZAE000061727
("Metrofile Holdings" or "the Company")
MIC INVESTMENT IN METROFILE
Further to the approval by Metrofile shareholders of the subscription for
additional shares in Metrofile by MIC Investment Holdings (Pty) Ltd (“MIC”)
at the Company’s general meeting held on 14 December 2016, MIC’s investment
in Metrofile increased to 36%.
MIC received legal advice that if it wanted to buy additional Metrofile
shares, for technical reasons, it should apply for clearance from the
Competition Commission and, as such, an application was duly submitted. The
requisite clearance was received from the Competition Tribunal but such
clearance has been reported out of context in recent press articles as an
approval for a merger of MIC and Metrofile.
Shareholders are advised that the application and approval are technical in
nature and MIC has no intention of "merging" with Metrofile. MIC may
however increase its shareholding in Metrofile from time to time by buying
Metrofile shares on and off market.
Johannesburg
4 July 2017
Sponsor
The Standard Bank of South Africa Limited
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