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Lifting of Suspension
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“the Company” or “Visual”)
ISIN Code: ZAE000187407 Share code: VIS
LIFTING OF SUSPENSION
Shareholders are referred to the announcement on SENS on 3 July 2017 regarding
the suspension of Visual due to the late publication of the results for the year ended
28 February 2017. This was due, inter alia, to the simultaneous change in both the
financial director and auditors just after year end. The change in auditors was due
to the previous auditors advising the company that they were not intending to
renew their JSE accreditation at that time.
Following the publication and posting of the results to shareholders on 22 September
2017, the JSE advised that the Company needed to publish the circular to
shareholders relating to the proposed Phase 2 acquisition of 18.9% in Mosegedi &
Associates as announced on 1 March 2017. A number of extensions had been
requested and granted due to difficulties with finalising the audits of Mosegedi for
the years ended 29 February 2016 and 28 February 2017 in accordance with full IFRS.
These difficulties mainly originated in the 2016 year and, in order to allow Mosegedi
the time to properly finalise its annual financial statements, amongst other things,
the parties agreed to cancel the proposed acquisition of the Phase 2 shares.
Accordingly, a circular to shareholders is no longer required. This was announced
on SENS on 23 October 2017.
As a result, the JSE has approved the lifting of the suspension and the Company’s
securities will recommence trading with immediate effect.
Cape Town
27 October 2017
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
Date: 27/10/2017 01:59:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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