CA Sales Holdings (Botswana) lists an additional 4.5 million shares to settle a R44 million acquisition in Logico

By Published On: December 21st, 2021Categories: Corporate announcement, Status

Shareholders are referred to the various announcements released on the Botswana Stock Exchange X-News and the Cape Town Stock Exchange website, advising that the Company had concluded an asset-for-share agreement (“Transaction Agreement”) with Lee Darran Taman (“Taman”) and Anthony John Geldard (“Geldard”) (together the “Sellers”), in terms of which the Sellers will, between them, sell an aggregate of 20,000 ordinary shares held by them in the Company’s subsidiary, Logico Unlimited Proprietary Limited (“Logico”), comprising 20% of the issued shares in Logico (“Logico Shares”), to CA&S, the aggregate purchase consideration of which will be settled by the Company through the payment to the Sellers of a cash consideration and by issuing ordinary shares to the Sellers (“Transaction)”, such purchase consideration being capped at a maximum of ZAR 99 000 000.

Shareholders are hereby advised that the first tranche of the Transaction has been concluded whereby CA&S will acquire 10% of Logico from the Sellers for an amount of ZAR44 836 883.24. It will be settled by CA&S issuing 4 584 548 ordinary shares in aggregate to the Sellers, comprising approximately 1% of the total issued share capital in CA&S, on 20 December 2021.

The total issued ordinary shares after the Transaction will be 461 432 502.

BY ORDER OF THE BOARD OF DIRECTORS OF CA&S

20 December 2021
CTSE Issuer Agent: PSG Capital
BSE Sponsoring Broker: Imara Capital Securities


CA Sales Holdings Limited (CAS.bw)

Share price: 365.00 Thebe (0.00 | 0.00% – 10/08/22)

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