Wrap Text
Specific issues of shares for cash
EFFICIENT GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 2006/036947/06)
JSE share code: EFG ISIN: ZAE 000151841
(“the company”)
SPECIFIC ISSUES OF SHARES FOR CASH
Efficient Specific Issue
Shareholders are advised that the company has reached agreement with certain employees of the company and
subsidiary companies to allot and issue Efficient shares to such employees for a cash subscription price of R2.50 per
Efficient share (“the Efficient specific issue”). The Efficient specific issue will be implemented in terms of a specific
issue of shares for cash and will thus require Efficient shareholder approval.
The terms of the Efficient specific issue were agreed and settled on 12 December 2013, at which time the 30 day
volume weighted average price of an Efficient share traded on the JSE was R2.34 per share. Accordingly, the R2.50
issue price equates to a 6.8% premium over that 30 day VWAP.
Further details of the Efficient specific issue are set out in the table below:
Subscriber Subsidiary of Efficient Number of Total subscription
shares price payable
P de Klerk Boutique Investment Partners (Pty) Ltd. 280 000 R700 000
T Chivizhe Boutique Investment Partners (Pty) Ltd. 200 000 R500 000
C de Klerk Boutique Collective Investment (Pty) Ltd. 160 000 R400 000
T Thomson Boutique Collective Investment (Pty) Ltd. 200 000 R500 000
A van der Ness Boutique Collective Investment (Pty) Ltd. 120 000 R300 000
S Griffin Boutique Collective Investment (Pty) Ltd. 20 000 R50 000
S Popat Boutique Collective Investment (Pty) Ltd. 80 000 R200 000
E Braak Boutique Collective Investment (Pty) Ltd. 60 000 R150 000
M van der Westhuizen Boutique Collective Investment (Pty) Ltd. 40 000 R100 000
R Tyson Boutique Investment Partners (Pty) Ltd. 40 000 R100 000
Total 1 200 000 R3 000 000
VIS Specific Issue
Shareholders are referred to the SENS announcement published on 20 November 2013 wherein it was advised that
Efficient had concluded an agreement with Christoffel Philippus Burger, Nicolaas Elmar Burger, Walter William
Borthwick, the trustees for the time being of the Burger Family Trust, the trustees for the time being of the Arend De
Waal Trust, the trustees for the time being of the Aliki Trust, the trustees for the time being of the MJK Family Trust
(the “sellers”), Verso Investment Services Proprietary Limited (“VIS”), Verso Multimanager Proprietary Limited,
Verso Securities Proprietary Limited, Verso Fiduciary Services Proprietary Limited, Martin James Kift, Paul Kirsten
Louw and Arend Egbertus De Waal dated 18 November 2013 in terms of which, inter alia, Efficient, as the purchaser,
has purchased from the sellers, all of the issued shares of VIS for an aggregate purchase price of R72 061 856 (“the
acquisition”). Given that the acquisition is classified as a Category 1 transaction by the JSE, the approval of Efficient
shareholders is required for the acquisition.
The company has reached agreement with certain employees of VIS, who will, subject to and after the
implementation of the acquisition, become employees of a subsidiary of the company, to allot and issue Efficient
shares to such VIS employees for a cash subscription price of R2.50 per Efficient share (“the VIS specific issue”). The
VIS specific issue will be implemented in terms of a specific issue of shares for cash and will thus require Efficient
shareholder approval. Furthermore, the VIS specific issue is conditional upon the implementation of the acquisition.
The terms of the VIS specific issue were agreed and settled on 12 December 2013, at which time the 30 day volume
weighted average price of an Efficient share traded on the JSE was R2.34 per share. Accordingly the R2.50 issue price
equates to a 6.8% premium over that 30 day VWAP.
The details of the VIS specific issue are set out in the table below:
Subscriber Subsidiary of Efficient (upon Number of Total subscription
implementation of the acquisition) shares price payable
M Kift VIS 80 000 R200 000
J van Wyk VIS 40 000 R100 000
A Redelinghuys VIS 240 000 R600 000
A de Waal VIS 80 000 R200 000
D Janse van Rensburg Verso Multi Manager 80 000 R200 000
K Sadie Verso Multi Manager 80 000 R200 000
P Louw VIS 80 000 R200 000
Total 680 000 R1 700 000
Liedtke Specific Issue
The company has reached agreement with Mr. Fred Liedtke (“Liedtke”) to allot and issue 937 500 Efficient shares to
Liedtke at an issue price of R1.60 per Efficient share, in discharge of the company’s obligation to make payment to
Liedtke of a corporate advisor fee in an amount of R1 500 000 for his facilitating the negotiations between the
parties to the acquisition agreement governing for the acquisition (“the Liedtke specific issue”).
The Liedtke issue price of R1.60 per Efficient share represents a 22% discount to the 30 day volume weighted
average price at which Efficient’s shares traded on the JSE up to and including 4 November 2013, being the business
day prior to the date the Efficient board agreed such subscription price with Liedtke.
The Liedtke specific issue will be implemented in terms of a specific issue of shares for cash and will thus require
Efficient shareholder approval. Furthermore, the Liedtke specific issue is conditional upon the implementation of the
acquisition.
Financial Effects
The financial effects of the Efficient specific issue, the VIS specific issue and the Liedtke specific issue will be
contained in Efficient’s Category 1 VIS acquisition circular to be sent to shareholders in due course.
13 January 2014
Corporate advisor and sponsor
Java Capital
Date: 13/01/2014 04:53:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
