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ARDEN CAPITAL LIMITED - Cautionary announcement

Release Date: 03/06/2020 08:55
Code(s): ACZ     PDF:  
Wrap Text
Cautionary announcement

Arden Capital Limited
(formerly Brainworks Limited)
(Incorporated in the Republic of Mauritius)
(Registration number: 115883 C1/GBL)
Share Code: ACZ
ISIN: MU0548S00026
(“Arden Capital” or “the Company”)

Cautionary announcement in relation to African Sun Limited’s intention to acquire the entire
issued ordinary shares of Dawn Properties Limited

Shareholders are advised that African Sun Limited (“African Sun”) and Dawn Properties Limited
(“Dawn”), both subsidiaries of the Company, published cautionary announcements today, 03 June 2020
on the Zimbabwe Stock Exchange (“ZSE”) Data Portal, advising shareholders that African Sun is in
negotiations with Dawn for the acquisition of 100% of the issued ordinary shares of Dawn, in exchange
for African Sun ordinary shares, to be issued based on an agreed price (“the Transaction”).

Shareholders were further advised that the board of directors of Dawn intend to apply to the ZSE for a
voluntary delisting in terms of Section 11 of the ZSE Listing Requirements, if the Transaction is
successful.

The above negotiations are still in progress and, if successfully concluded, may have a material effect
on the price of the Company’s shares. Accordingly, shareholders are advised to exercise caution when
dealing in their Arden Capital shares until a further announcement is made.


Grand Baie, Mauritius
03 June 2020

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 03-06-2020 08:55:00
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