Receipt of First Draw Down in Relation to the Funding Agreement between Visual and Milost Global Inc
- Created: Friday, 17 November 2017 19:12
- Written by Super User
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“the Company” or “Visual”)
ISIN Code: ZAE000187407
Share code: VIS
CONFIRMATION OF RECEIPT OF FIRST DRAW DOWN IN RELATION TO THE FUNDING AGREEMENT BETWEEN VISUAL AND MILOST GLOBAL INC (“MILOST”)
Shareholders are reminded that the Company has signed a funding agreement with Milost for equity and debt funding as announced on 15 September 2017. The board is pleased to advise that the funding from the first equity drawn down has been received and will be used for Visual’s working capital. The issue price for the first draw down is 16.5 cents and is at a 50% premium to the 5-day volume-weighted average price (“VWAP”), which was determined at 11 cents. The drawn down costs of R75 000 will be settled at the VWAP of 11 cents per share. The shares will be issued under the Company’s general authority to issue shares for cash. Visual looks forward to a long and productive relationship with Milost.
Kings Pride Properties Inks a Multimillion Dollar Financing Term Sheet With a New York PE Giant
- Created: Monday, 13 November 2017 17:17
- Written by Nasdaq GlobeNewswire
NAIROBI, Kenya, Nov. 13, 2017 (GLOBE NEWSWIRE) -- Kings Pride Properties Limited, a Nairobi based real estate development and investment company, announced today that it has signed a financing term sheet of USD$450 million with Milost Global Inc, a New York based Private Equity Firm. This is a working capital and development facility for the company which is being provided as a combo of Debt and Equity, of which $150 million will be an equity facility and $300 million will be debt facility. Both the company and the investor are expected to sign a commitment letter by November 16th 2017.
The Chief Executive Officer of Kings Pride Properties Limited, Maj (Rtd) David Karau, stated, “The best Solution the company has garnered this last quarter of 2017 is this key Partnership with Milost Global Inc. Players in our market know how securing financing locally has taken a twist and became very scarce and expensive. This went all the way into project execution lacking the business charisma expected by the market more so low ROI as well as unaffordability by the end user. We opened our finance and investments doors for this strategic partnership and we hope it comes in as a solution to our property development agenda.”
The Senior Partner & President of Milost Global Africa, Solly Asibey, stated, “The wealth of knowledge, track record and growth strategy of Kings Pride with regards to the real estate development market in Kenya has endeared Milost to partner with them. Our aim is to help grow Kings Pride into a formidable company in the East African region, whilst creating value for all our stakeholders in the process.”
Optimum Inks a Multimillion Dollar Financing Term Sheet With Milost
- Created: Tuesday, 07 November 2017 23:34
- Written by Nasdaq GlobeNewswire
NIGERIA, Lagos, Nov. 07, 2017 (GLOBE NEWSWIRE) -- Optimum Petroleum Development Ltd, a Nigerian based exploration, development and production company, announced today that it has signed a financing term sheet of USD$850 million with Milost Global Inc, a New York based Private Equity Firm. This is a working capital and development facility for the company which is being provided as a combo of Debt and Equity, of which $700 million will be an equity facility and $150 million will be debt facility. Both the company and the investor are expected to sign a commitment letter by November 8th 2017.
The Chief Executive Officer of Optimum Petroleum Development Ltd, Engr. Yusuf K. J. N’jie, stated “Optimum Petroleum Development Company is re-asserting itself by directly raising capital for rapid appraisal/developmental drilling and early production of our OGO field. De-risking of our OGO field and other structures on our asset through appraisal and exploration drilling remains the clearest path of unlocking the said value of our asset. We are very glad to be in partnership with Milost Global Inc, who will be giving us the necessary funds that will make us quickly achieve these goals and also expand our asset portfolio.”
Milost Announces the Formation of Isilo and the Appointment of the CEO
- Created: Thursday, 02 November 2017 20:21
- Written by Econotimes
NEW YORK, Nov. 02, 2017 -- Milost Global Inc, an American Private Equity firm that is headquartered in New York, is pleased to announce the successful formation of Isilo Capital Partners (Pty) Ltd (“ICP”) in South Africa and the appointment of Tiny Diswai as the Chief Executive Officer. ICP is a fund management company that is owned and managed by Milost Global Inc. ICP will act as a fund manager to Isilo Fund 1. Milost is also pleased to announce that Isilo Fund 1 will seek to raise a total of $5 billion. The Fund will strictly invest in Africa with ticket sizes from $1 million to $10 million per transaction. ICP will begin its fundraising from November 20, 2017. The Fund seeks to raise 30% of the capital in Africa, 30% in Europe, 30% in Asia and 10% in UAE.
Milost is also pleased to announce the appointment of Tiny Diswai as the Chief Executive Officer of ICP. Tiny is a Co-chairwoman of Milost Global Africa (Pty) Ltd, she holds a bachelor of commerce degree and a Masters’ degree in business Administration. She is a certified Public Private Partnerships Specialist. Ms Diswai has well-rounded experience in the business world ranging from financial management, project implementation and management, procurement, internal audit, general management, lease financing, corporate finance, deal structuring and marketing. She has advised various Government ministries in implementing their privatisation and outsourcing initiatives as well as monitoring the performance of state owned enterprises and advising on corporate governance issues.