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ETION LIMITED - General Issue of Shares for Cash

Release Date: 07/11/2018 08:00
Code(s): ETO     PDF:  
Wrap Text
General Issue of Shares for Cash

Etion Limited
(previously known as Ansys Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1987/001222/06)
JSE Share code: ETO ISIN: ZAE000257739
("Etion" or the “Company”)


General Issue of Shares for Cash


At the annual general meeting of Etion shareholders held on Thursday, 27 September 2018,
the requisite majority of shareholders approved an ordinary resolution authorising the directors
of the Company to issue up to 50% of Company’s issued share capital for cash in accordance
with paragraph 5.52 of the Listings Requirements of the JSE Limited (“the LR”).

Shareholders are advised that in terms of paragraph 11.22 of the LR, Etion issued 70 000 000
shares at 39 cents per share raising an amount of R 27.3 million (“the general issue”). The
general issue was implemented at a 3.8% discount to the 30 day weighted average traded
price of Etion shares for the 30 business days preceding the date that the price of the issue,
under the general authority, was agreed.

The shares were issued to Conexus Capital Growth Fund Trust, which is represented by Clive
Douglas Investments (“Douglas Investments”), and represent 14.16% of the issued share
capital of Etion prior to the general issue, and 12.40% after the issue of the shares. Douglas
Investments manages its clients’ funds on a discretionary basis and provides investment
exposure across all asset classes, both locally and offshore.

The investment by Douglas Investments is intended to strengthen Etion’s thrust into cutting-
edge digital security innovation, following its acquisition of cybersecurity specialist, LAWTrust,
in June 2018.


7 November 2018

Centurion

Designated adviser

Exchange Sponsors

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