Agreement between Visual and Milost Global Inc

VISUAL INTERNATIONAL HOLDINGS LIMITED – Receipt of Second Draw Down in relation to the funding agreement between Visual and Milost Global Inc

VIS 201803020015A

Receipt of Second Draw Down in relation to the funding agreement between Visual and Milost Global Inc

VISUAL INTERNATIONAL HOLDINGS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 2006/030975/06)

(“Visual” or “the Company”)

ISIN Code: ZAE000187407 Share Code: VIS

RECEIPT OF SECOND DRAW DOWN IN RELATION TO THE FUNDING AGREEMENT BETWEEN

VISUAL AND MILOST GLOBAL INC (“MILOST”)

As announced on SENS on 15 September 2017, Visual had signed a funding agreement with

Milost for equity and debt funding. Following the Company’s issuance of an initial draw

down notice for R1.5 million (“Initial Equity Draw Down”), the Company received the

proceeds of the Initial Equity Draw Down on 16 November 2017 and shares in respect of

such proceeds were allotted to Milost.

The Company issued a second draw down notice (“Second Equity Draw Down”) in

November 2017 for R2 million under the equity facility and the Board is pleased to advise

that the proceeds of the Second Equity Draw Down have been received in full on

27 February 2018 and will be used for Visual’s working capital. The transaction was

facilitated and arranged on behalf of Visual by Palewater Advisory Group Inc.

Details regarding the issue of Visual shares to Milost in respect of the Second Equity Draw

Down, which will be subject to JSE approval, will be announced as soon as possible.

Shareholders are referred to the detailed cautionary announcement issued on

19 February 2018 in which the Company advised that it has signed a conditional agreement

with Milost relating to a subscription by Milost for 252 673 771 new shares in Visual at a

subscription price of 11.81 cents in order to raise R29 840 772 by way of a claw back offer

(“the Claw Back Offer”). The final terms, conditions and salient dates of the Claw Back Offer

will be made in due course. Accordingly, shareholders are advised to continue to exercise

caution when dealing in the securities of Visual until a further announcement is made.

Cape Town

2 March 2018
Designated Advisor

Arbor Capital Sponsors Proprietary Limited

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