Updated Detailed Cautionary Announcement
DIGICORE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/012601/06)
Share Code: DGC
ISIN Number: ZAE000016945
(“the Company” or “DigiCore”)
UPDATED DETAILED CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement
released on SENS on 7 May 2015.
Shareholders are hereby advised that the Company has entered
into negotiations with Novatel Wireless, Inc.(“Novatel”), in
relation to a proposed transaction in terms of which Novatel
wishes to acquire all shares in DigiCore for a purchase
consideration of R4 per DigiCore share (“Proposed
Novatel is a company listed on the NASDAQ in the United States
of America (“USA”) and is in the process of finalising its
funding of the Proposed Transaction. In order for Novatel to
comply with legislation in the USA, it has published details
of the Proposed Transaction.
In addition, shareholders are advised that substantial due
diligence has already been conducted by Novatel and no
material issue has been identified.
Even though negotiations are at an advanced stage,
shareholders are cautioned that no final binding agreement has
been concluded with Novatel in relation to the implementation
of the Proposed Transaction (or firm intention offer received)
and there is no certainty that the negotiations or a final
binding agreement will be successfully concluded (or firm
intention offer received). Accordingly, shareholders are
advised to continue to exercise caution when dealing in the
Company’s securities until a further announcement is made.
5 June 2015
Corporate Advisor & Sponsor
PSG Capital Proprietary Limited
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