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Delay in posting of circular to shareholders
AFRICAN DAWN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/020520/06)
Share code: ADW
ISIN Code: ZAE000223194
("Afdawn" or "the Company")
DELAY IN POSTING OF CIRCULAR TO SHAREHOLDERS
Afdawn shareholders ("Shareholders") are referred to the SENS announcement released on
1 October 2024 wherein the Company, through its wholly-owned subsidiary Elite Group (Pty)
Limited ("Elite"), announced that it had entered into an agreement with EXG Partners (Pty)
Limited ("EXG"), in terms of which EXG will invest R5 million ("Initial Investment Amount")
through the subscription for ordinary shares in Elite, comprising 50% of Elite's total issued
capital ("Disposal") and further provide a long term commercial loan of R15 million to Elite.
As the Disposal involves the issue of shares by a subsidiary of the Company, and based on
the value of the Initial Investment Amount, it is deemed to be a category 1 disposal in terms
of the JSE Listings Requirements. As a result, the Disposal is required to be approved by an
ordinary resolution of Shareholders at a general meeting, notice of which will be included in
the circular to be distributed to Shareholders ("Circular").
Shareholders are further referred to the previous suspension of the Company's shares from
trading on the JSE on 18 July 2024, due to delays in the publication of the annual financial
statements and annual report for the year ended 29 February 2024 ("Year End Reports").
While the Year End Reports have recently been published and the suspension lifted, this has
nevertheless impacted the timing of the preparation of the Circular.
Shareholders are hereby advised that the JSE has granted the Company an extension
permitting the Circular to be distributed to Shareholders by no later than 31 January 2025.
Johannesburg
22 November 2024
Designated Advisor
PSG Capital
Date: 22-11-2024 04:50:00
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