MPACT LIMITED - Notice of provision of direct or indirect financial assistance in terms of section 45 of the Companies Act

Notice of provision of direct or indirect financial assistance in terms of section 45 of the Companies Act

Mpact Limited
(Incorporated in the Republic of South Africa)
(Company registration number 2004/025229/06)
Income tax number: 9003862175
JSE Share Code: MPT
JSE ISIN: ZAE 000156501
(“Mpact” or “the Company”)

NOTICE OF PROVISION OF DIRECT OR INDIRECT FINANCIAL ASSISTANCE IN
TERMS OF SECTION 45 OF THE COMPANIES ACT NO 71 OF 2008

Pursuant to the notice released on SENS dated 15 March 2017
relating to the provision of direct or indirect financial
assistance in terms of Section 45 of the Companies Act,
shareholders are advised that Mpact has re-financed R950m of its
existing debt, which was due to mature on 22 December 2017, for
another 4 years commencing on 1 December 2017.

The Board of Directors (“the Board”) of the Company adopted a
resolution on 4 August 2017, authorising the Company to provide
direct or indirect financial assistance pursuant to the Suretyship
and as envisaged in section 45 of the Act and in terms of the
requisite authority obtained at the 2017 AGM.

The Board has confirmed that, after considering the reasonably
foreseeable financial circumstances of the Company, it is
satisfied that, immediately after providing such financial
assistance, the Company would satisfy the solvency and liquidity
test, as contemplated in terms of section 4 of the Act and that
the terms under which such financial assistance was given were
fair and reasonable to the Company. Shareholders are advised that
the guarantees provided for the subsidiaries in terms of the
Suretyship exceed one tenth of 1% of the Company’s net worth as at
the approval date of the provision of the guarantee.


Melrose Arch
7 August 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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