Further cautionary announcement
Metrofile Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1983/012697/06
JSE ordinary share code: MFL
(‘‘Metrofile’’ or the “Company’’)
BID FOR METROFILE AND FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the announcement dated 30 March 2020.
The Housatonic Consortium has informed the board of Metrofile that it remains committed to acquiring
Metrofile, but realistically neither it nor its bankers can proceed until the Covid-19 crisis and lockdown
in South Africa are over and international travel restrictions have been lifted. The Housatonic
Consortium will need to see three months of normal trading and revised projections and debt levels
before a firm offer package and funding can be finalised. Accordingly, the Housatonic Consortium and
board of Metrofile have agreed that the current target completion date of 31 May 2020 be postponed
and that further communications to shareholders in this regard are likely to occur after the publication
of the results for the year ended 30 June 2020.
Shareholders are further advised that, to facilitate the BEE requirements of the Housatonic Consortium,
Mineworkers Investment Company (Pty) Limited and Sabvest Limited have agreed in principle to
partially re-invest alongside the Housatonic Consortium through a Special Purpose Vehicle which will
own 25,1% of Metrofile if the transaction is concluded.
Shareholders are advised to continue exercising caution in trading in Metrofile shares.
30 April 2020
Sponsor: The Standard Bank of South Africa Limited
Date: 30-04-2020 12:30:00
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.