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Acquisition of Asset Pool Update
AFRISTRAT INVESTMENT HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ATI - ISIN: ZAE000305959
Debt Issuer Code: ATID
Hybrid Issuer Code: ATIG
(“Afristrat” or “the Company”)
ACQUISITION OF ASSET POOL UPDATE
Shareholders are referred to the ‘Acquisition of Asset Pool’ announcement released on SENS on 6 April 2022
(“Announcement”) wherein it was advised that (and using the terms defined therein unless otherwise
stated):
- Afristrat’s wholly-owned subsidiary, ECS Private Equity, had entered into a binding Term Sheet to
acquire 100% of Crosscorn Proprietary Limited, together with a distressed loan asset pool (collectively,
the “Asset Pool”) from SATF for a total purchase price of USD5 000 000 (“Purchase Price”).
- In accordance with the Term Sheet, the Purchase Price was to be settled by a combination of debt and
equity, subject to the fulfilment of the Conditions Precedent set out in paragraph 2.8 of the
Announcement.
Shareholders are hereby advised that the Transaction has been cancelled by mutual consent of the parties
with effect from 29 August 2022, as the Company will not be able to issue the Shares to satisfy the equity
component of the Purchase Price, due to the current suspension of Afristrat’s listing on the JSE.
31 August 2022
Pretoria
Sponsor
Merchantec Capital
Date: 31-08-2022 10:19:00
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