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VISUAL INTERNATIONAL HOLDINGS LIMITED - Renewal of Cautionary Ann - Specific Issue of shares for cash to ZigZag SA Inv 1 Ltd & AM Assoc The David Worth Grp

Release Date: 21/08/2019 08:55
Code(s): VIS     PDF:  
Wrap Text
Renewal of Cautionary Ann - Specific Issue of shares for cash to ZigZag SA Inv 1 Ltd & AM Assoc The David Worth Grp

VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“Visual” or “the Company”)
ISIN Code: ZAE000187407 Share Code: VIS

RENEWAL OF CAUTIONARY ANNOUNCEMENT: SPECIFIC ISSUE OF SHARES FOR CASH TO
ZIGZAG SA INVESTMENTS 1 LIMITED ("ZIGZAG") AND AM ASSOCIATES THE DAVID WORTH
GROUP ("AM ASSOCIATES")


Shareholders are referred to the previous renewal of cautionary announcements, the last
of which was published on SENS on 10 July 2019, and are hereby advised that the due
diligence process undertaken by Zigzag and AM Associates is still ongoing. This process is
taking longer than anticipated, and a further announcement in this regard will be made as
soon as practicable. A new agreement is expected to be signed on similar terms as
previously announced. Accordingly, shareholders are advised to continue to exercise
caution when dealing in their Visual securities until a full announcement is made.

As announced previously, shareholders are also advised that, further to the announcement
published on SENS on 1 July 2019 regarding the suspension of the listing of Visual’s securities
by the JSE, the Company’s audit will need to be completed in relation to annual financial
statements for the year ended 28 February 2019. The Company will apply to the JSE for the
lifting of the suspension as soon as the results have been published and the Annual Report
has been finalised. A further announcement in this regard will be made in due course.


Cape Town
21 August 2019


Designated Advisor
Arbor Capital Sponsors Proprietary Limited

Date: 21/08/2019 08:55:00
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