To view the PDF file, sign up for a MySharenet subscription.

ALVIVA HOLDINGS LIMITED - Broad-Based Black Economic Empowerment transaction and Broad-Based Black Economic Empowerment Act: Annual Compliance

Release Date: 29/09/2017 13:55
Code(s): AVV     PDF:  
Wrap Text
Broad-Based Black Economic Empowerment transaction and Broad-Based Black Economic Empowerment Act: Annual Compliance

ALVIVA HOLDINGS LIMITED

(Previously Pinnacle Holdings Limited)

(Incorporated in the Republic of South Africa)

(Registration number: 1986/000334/06)

(Share Code: AVV ISIN Code: ZAE000227484)

(“Alviva” or “the Company”)

BROAD-BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION AND BROAD-BASED BLACK
ECONOMIC EMPOWERMENT ACT: ANNUAL COMPLIANCE REPORT

Board- Based Black Economic Empowerment (“B-BBEE”) Transaction

On 2 August 2016 Alviva announced the conclusion of its B-BBEE transaction through its subsidiary
DCT Holdings (Pty) Ltd (“DCT Holdings”). A broad-based trust, the Ledibogo Trust (“the Ledibogo
Trust”) (Previously the Pinnacle Foundation Trust ), through its wholly-owned subsidiary, Ledibogo
(RF) Proprietary Limited (“Ledibogo RF”) (Previously Pinnacle Foundation (RF) Proprietary Limited),
acts as the B-BBEE partner to the B-BBEE Transaction and subscribed for 29,93% of the ordinary issued
shares in DCT Holdings.

Due to changes in the recently gazetted ICT Sector code, whereby foreign mandated investments are
no longer excluded from shareholding calculations for B-BBEE purposes, the effective black ownership
in DCT Holdings, as a result of the flow through from Alviva, reduced below 51%. Management
consider it essential for transformation and business growth that the black ownership of DCT Holdings
be maintained at above 51%.

Following an independent valuation of the ordinary shares of DCT Holdings, the Ledibogo Trust
through Ledibogo RF, have subscribed for a further 106 shares in DCT Holdings representing an
additional effective 9.15 % shareholding. The subscription of shares is funded by an interest free loan
from DCT Holdings for R90 328 037, to be repaid out of future distributions received from DCT
Holdings. The subscription of shares is below the categorisation thresholds of the JSE Listings
Requirements.

Annual Compliance Report

In accordance with paragraph 16.20 (g) and Appendix 1 to Section 11 of the JSE Listings Requirements,
notice is hereby given that the Company’s annual compliance report in terms of section 13G(2) of the
Act has been issued and its B-BBEE certificate is available on the Company’s website at
www.alvivaholdings.com

Midrand

29 September 2017

Sponsor

Deloitte & Touche Sponsor Services (Pty) Ltd

Date: 29/09/2017 01:55:00 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.

Share This Story