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ADAPT IT HOLDINGS LIMITED - Voluntary Announcement: Update Following Results Presentation

Release Date: 04/03/2020 08:10
Code(s): ADI     PDF:  
 
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Voluntary Announcement: Update Following Results Presentation

Adapt IT Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/017276/06)
Share code: ADI    ISIN: ZAE000113163
(“Adapt IT” or “the Company”)


VOLUNTARY ANNOUNCEMENT: UPDATE FOLLOWING RESULTS PRESENTATION


Further to the Company’s interim results presentation on 25 February 2020, and following
stakeholder engagement, the board of directors of Adapt IT (“the Board”) wishes to advise
shareholders of its intention to prioritise reduction of net interest bearing debt back to the targeted
level of 50% of equity, and as a consequence, is suspending all acquisitions until such time.

Further, the Board believes that the Company is able to reduce its debt in the ordinary course of
business to the targeted level.

The Board wishes to clarify that the Company is not contemplating a rights issue at this stage.


Johannesburg
4 March 2020

Sponsor
Merchantec Capital

Date: 04-03-2020 08:10:00
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