SAGARMATHA TECHNOLOGIES LIMITED - LISTING ON THE JSE

LISTING ON THE JSE

SAGARMATHA TECHNOLOGIES LIMITED
(Previously African Technology and Media Holdings Proprietary
Limited)
(Incorporated in the Republic of South Africa)
Registration number: 2013/181904/06
JSE share code: SGT
ISIN ZAE000252334
(“Sagarmatha Technologies” or the “Company”)

LISTING ON THE JSE

Shareholders are referred to the abridged pre-listing statement of
Sagarmatha Technologies released on SENS on 28 March 2018 and the
various announcements in respect of a change to salient dates and
times released on SENS on 29 March 2018 and 5 April 2018
respectively.

On 10 April 2018 at 14:00, the Company received a letter from the
JSE giving notice to the company that the listing could no longer
proceed. The reasons provided by the JSE:

  1. Is that the Company did not submit its annual financial
     statements to the CIPC (“Companies and Intellectual Property
     Commission”) at the time when the pre-listing statement was
     approved by the JSE. As a consequence the JSE stated that the
     company did not comply with *Section 33 of the Companies Act,
     Act 71 of 2008 (“Companies Act”) and therefore paragraph 4.6 of
     the JSE Listings Requirements (the “Requirements”).

  2. The JSE further informed the Company that it was not aware that
     the above referred to annual financial statements were not
     submitted to CIPC when the pre-listing statement was approved.

  3. The JSE further stated that the Company failed to release the
     interim results of the Company for the 12 month period ending 31
     December 2017 (“Interim Results”) by no later than 9 April 2018.

  Section 33 of the Companies Act requires that every Company file
  an annual return in the prescribed form with the prescribed fee,
  and within the prescribed period after the end of the
  anniversary of the date of its incorporation, including in that
  return a copy of its annual financial statements, if it is
  required to have such statements audited and any other
  prescribed information.


The Company notes on 11 April 2018 it received written confirmation
from CIPC that it is compliant from this date with the Companies
Act and its financials have been lodged with CIPC as required by
section 33 of the Companies Act.



The Company further notes that the various financial statements
referred to above were audited and were included in the pre-listing
statement and therefore publicly available.


The Company further notes that the Interim Results which were
released on SENS at 12:27 on 10th April 2018 was released half a
business day later.

The Company is disappointed that the JSE has made a decision that
the listing cannot proceed as a result of the above.

Regrettably therefore due to the JSE’s decision, the Company cannot
continue with the listing on the 13th of April 2018.

The Company will consult with its advisors and consider its next
steps.




Cape Town
11 April 2018

Transaction   Advisor   and   Sponsor:   Vunani   Capital   Proprietary
Limited

Independent Reporting Accountant and Auditor: BDO Cape Inc.

Legal Advisor: Tshisevhe Gwina Ratshimbilani Inc

Date: 11/04/2018 05:48:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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