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VISUAL INTERNATIONAL HOLDINGS LIMITED - Update regarding Claw Back Offer - Non Payment of Claw Back Subscription

Release Date: 01/06/2018 16:12
Code(s): VIS     PDF:  
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Update regarding Claw Back Offer - Non Payment of Claw Back Subscription

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

UPDATE REGARDING CLAW BACK OFFER: NON-PAYMENT OF CLAW BACK SUBSCRIPTION

Shareholders are referred to the announcement published on SENS on 8 May 2018 regarding
the new terms agreed to between the Company and Milost Global Incorporated (“Milost”)
relating to a subscription for 310 000 000 new shares in Visual at a subscription price of 3.3 cents
in order to raise R10 230 000 (“the Claw Back Subscription”) by way of a claw back offer.

Shareholders are advised that Milost has failed to pay the Claw Back Subscription, which
amount was due by 30 May 2018. The Company has followed up with Milost on this matter and
was advised yesterday that Milost has taken a decision to no longer invest in public companies.

Shareholders are also advised that the Company is investigating other funding opportunities,
and shareholders should therefore continue to exercise caution when dealing in the securities
of Visual until a further announcement is made in respect hereof, as well as in respect of

(i)     the confirmation of the implementation of the Mosegedi cancellation agreement; and
(ii)    the terms announcement or withdrawal of cautionary in relation to the offer for Stellendale
        Junction, as detailed in the announcement published on SENS on 8 May 2018.


Cape Town
1 June 2018

Designated Advisor
 Arbor Capital Sponsors Proprietary Limited

Date: 01/06/2018 04:12:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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