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Voluntary announcement regarding Agilitee South Africa Proprietary Limited (“Agilitee SA”)
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
ISIN code: ZAE000187407 Share code: VIS
(“Visual” or “the Company”)
VOLUNTARY ANNOUNCEMENT REGARDING AGILITEE SOUTH AFRICA PROPRIETARY LIMITED
(“AGILITEE SA”)
Shareholders are referred to the detailed cautionary announcement as well as the update
announcement published on 1 July 2021 relating to the proposed acquisition of Agilitee SA from
Agilitee Proprietary Limited (“Agilitee Africa”).
Following the conclusion of the due diligence exercise and the confirmation of the Board to
continue with the acquisition, the Company notes that Agilitee SA has accepted a proposal from
GridCars Proprietary Limited (“GridCars”) for the building and operation of a network of 100 Electric
Vehicle (EV”) charging stations in South Africa in several phases. Gridcars will be appointed as the
Charge Point Operator and will have certain rights to negotiate on behalf of Agilitee SA. GridCars
already have leading experience in building and operating such networks in South Africa. Currently
there are 150 electric vehicles charging stations in South Africa that are controlled by 7 automotive
companies. These new Agilitee stations will charge all electric vehicles, not just Agilitee motorbikes,
but also all four wheel electric vehicles. Agilitee has signed the proposal to expedite the process
of adoption of EV by bolstering the infrastructure development, with the first operational charging
stations planned for handover in the last quarter of 2021.
Further details will be included in the Circular to shareholders, which is in the process of being
prepared.
Shareholders are reminded that the acquisition will be Category One transaction and is still subject
to a number of conditions precedent, regulatory approvals of both the JSE and Takeover
Regulation Panel as well as the approval of Visual shareholders in general meeting. A profit forecast
will be included in the circular to shareholders, reviewed by reporting accountants, due to the
Company being relatively new.
CAPE TOWN
6 July 2021
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 06-07-2021 12:35:00
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