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
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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.
17 November 2017
Arbor Capital Sponsors Proprietary Limited
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