TSOGO SUN HOLDINGS LIMITED - Fulfillment of The Condition Precedent in respect of the Unbundling of Gameco and Finalisation Announcement

Release Date: 18/06/2018 17:00
Code(s): TSH
 
Wrap Text
Fulfillment of The Condition Precedent in respect of the Unbundling of Gameco and Finalisation Announcement

 TSOGO SUN HOLDINGS LIMITED
 (Incorporated in the Republic of South Africa)
 (Registration No. 1989/002108/06)
 JSE Share Code: TSH
 ISIN: ZAE000156238
 ("Tsogo")



 FULFILLMENT OF THE CONDITION PRECEDENT IN RESPECT OF THE UNBUNDLING OF
 GAMECO AND FINALISATION ANNOUNCEMENT


1.    Introduction

Shareholders of Tsogo (“Shareholders”) are referred to the SENS announcement released by
Tsogo on 30 October 2017 relating to the acquisition of the issued share capital of Niveus Invest
19 Limited (since converted to a private company and renamed Tsogo Sun Alternative Gaming
Investments Proprietary Limited (“Gameco”))

2. Condition precedent regarding the Grand Oasis Casino, Kuruman

The condition precedent relating to the acquisition by Tsogo of the Niveus Investments Limited
(“Niveus”) interest in Leitlho SPV Proprietary Limited, trading as the Grand Oasis Casino,
Kuruman (“Grand Oasis Casino”) was met on 15 June 2018.

Consequently, Niveus transferred the entire share capital of Niveus Invest 1 Proprietary Limited,
which houses the Grand Oasis Casino, to Gameco, a wholly owned subsidiary of Tsogo on 15
June 2018. The purchase consideration will be discharged by way of set-off against the amount
owing by Niveus to Gameco.


Fourways
18 June 2018



 Corporate advisor and sponsor to Tsogo
 Investec Bank Limited

 Corporate Law Advisors to Tsogo
 Taback and Associates Proprietary Limited

Date: 18/06/2018 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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