ADAPT IT HOLDINGS LIMITED - General Issue of Shares for Cash

General Issue of Shares for Cash

ADAPT IT HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/017276/06)
Share code: ADI ISIN: ZAE000113163
(“Adapt IT” or “the Company”)


GENERAL ISSUE OF SHARES FOR CASH


At the annual general meeting of Adapt IT shareholders held on Friday, 25 November 2016, the requisite
majority of shareholders approved an ordinary resolution authorising the directors of the Company to issue up
to 15% of the Company’s issued share capital for cash in accordance with paragraph 5.52 of the Listings
Requirements of the JSE Limited (“JSE Listings Requirements”) (“General Authority”).

In terms of paragraph 11.22 of the JSE Listings Requirements, shareholders are hereby advised that Adapt IT
has cumulatively issued more than 5% of its shares in issue under the General Authority since the date of the
annual general meeting.

The shares issued under the General Authority were issued as follows:

-   On 15 December 2016, Adapt IT issued 5 793 102 ordinary shares at R14.50 per share, being a 9.15%
    discount to the 30 day volume weighted average price at the close of business on 13 December 2016, the
    day before the issue was agreed in writing, in terms of an accelerated bookbuild.

-   On 31 July 2017, Adapt IT issued 3 091 343 ordinary shares at R9.98 per share, being a 10% discount to
    the 30 day volume weighted average price at the close of business on 9 May 2017, the day before the
    issue was agreed in writing, to Shalamuka Capital 3 Proprietary Limited (“Shalamuka”).

The proceeds of the accelerated bookbuild were used to fund acquisitions, whereas the issue of shares to
Shalamuka formed part of the composite transaction for the acquisition of Micros South Africa Limited, as
announced on SENS on 10 May 2017.

31 July 2017

Sponsor
Merchantec Capital

Date: 31/07/2017 03:10:00 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.