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LABAT AFRICA LIMITED - Renewal of cautionary announcement and update on funding agreement between Labat and Milost Global Inc (Milost)

Release Date: 21/09/2017 14:29
Code(s): LAB     PDF:  
Wrap Text
Renewal of cautionary announcement and update on funding agreement between Labat and Milost Global Inc (“Milost”)

Labat Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat” or “the Company”)
ISIN Code: ZAE 000018354 Share code: LAB


RENEWAL OF CAUTIONARY ANNOUNCEMENT AND UPDATE ON FUNDING AGREEMENT BETWEEN
LABAT AND MILOST GLOBAL INC (“MILOST”)


Renewal of cautionary
Shareholders are also reminded of the cautionary announcement issued on 8 August 2017 and
are advised to continue to exercise caution when dealing in their securities.

Update on Milost
Shareholders are referred to the announcement issued on 8 August 2017 whereby shareholders
were advised that Labat has issued and delivered three drawdown notices to Milost Global at
an issue price of R0.64 (ZAR) per share totalling R5m (Five million Rand).

The net proceeds of the first draw down of R1m (one million Rand) have been received from
Milost in the Labat bank account and the shares have been issued and listed.

The second drawdown notice R0.64c which payment was originally expected to be received on
or about 9 August 2017 and the third drawdown notice is also R0.64c for (ZAR) 3 000 000.00 (Three
million Rand) which was expected to be received on or about 11 August 2017.

Shareholders are advised that the funds for the second and third draw down have not yet been
received. A further announcement will be made in the event that the funds are received.

21 September 2017
Johannesburg

Sponsor
Arbor Capital Sponsors Proprietary Limited

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