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Renewal of Separate Cautionary Announcements
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“Visual” or “the Company”)
ISIN Code: ZAE000187407 Share code: VIS
RENEWAL OF SEPARATE CAUTIONARY ANNOUNCEMENTS
1. Potential Acquisition
Shareholders are referred to the variation of cautionary announcement, which
was published on 6 March 2018, regarding the negotiations entered into for a
potential acquisition by the Company. Shareholders will be updated in due course
as to the progress of the transaction.
2. Stellendale Junction
Shareholders are referred to the renewal of cautionary announcement, the last of
which was published on 6 March 2018 and are advised that the offer for R34 million
received by the Company in relation to one of its properties known as Stellendale
Junction is still subject to several conditions precedent, one of which is approval of
development funding for the purchaser, which is still in progress.
Shareholders will be updated in due course as to the progress of the transaction
and a final terms announcement will be published.
3. Unwinding of the Mosegedi transaction
Shareholders are referred to the renewal of cautionary announcement, the last of
which was published on 6 March 2018 regarding the unwinding of the acquisition
of 31.2% of Mosegedi ab initio. This will result in the parties being put back into the
same position as had they not entered into the agreement.
The full details and financial information in respect of this transaction will be
announced as soon as is practicable.
4. Potential claw-back offer
Shareholders are referred to the renewal of cautionary announcement, the last of
which was published on 6 March 2018, regarding a conditional agreement with
Milost Global Incorporated (“Milost”) regarding a claw back offer. The final terms
and conditions of the claw back offer are still being negotiated. Pursuant to the
claw back offer, Milost may hold more than 35% of the issued share capital of
Visual. Shareholders will be approached to approve a waiver of a mandatory offer
pursuant to the funds being received by the Company.
Shareholders will be updated in due course as to the progress of the transaction.
Shareholders are advised that the negotiations in relation to point 1 above and the
potential Claw Back Offer, point 4, above are mutually exclusive and the Company will
only proceed with one of the parties, subject to agreements being signed.
In light of the above disposal conditions and negotiations which are still in progress,
shareholders are advised to continue to exercise caution when dealing in the securities
of the Company until further announcements are made.
Cape Town
17 April 2018
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
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