W G WEARNE LIMITED – Funding commitment between Wearne and Milost Global Inc and withdrawal of cautionary announcement
- Created: Tuesday, 26 September 2017 22:43
- Written by Moneyweb
Funding commitment between Wearne and Milost Global Inc and withdrawal of cautionary announcement
WG Wearne Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/005983/06)
Share code: WEA ISIN: ZAE000078002
(“Wearne” or “the Company”)
Funding commitment between Wearne and Milost Global Inc
1. Funding commitment
Shareholders are advised that Wearne has on 21 September 2017 signed a funding commitment letter with Milost Global Inc (“Milost”) for equity and debt funding of up to R300 000 000, in terms of which Milost will, subject to certain terms and conditions:
- invest R50 million in Wearne for the subscription of ordinary shares in Wearne; and
- lend and advance R250 million in convertible notes.
Milost is not a related party to Wearne.
In the event that any of the above matters fall outside the general authority granted to the board at the last annual general meeting dated 26 October 2016, or if Milost becomes a related party to Wearne as defined by the JSE Listing Requirements, shareholder approval will be required.
Milost agreed not to trade its shares in Wearne for a period of 90 days from the date of receipt of shares. The funding is subject to the execution of an equity subscription agreement by both parties. A further announcement will be made in due course.
2. Withdrawal of cautionary announcement
Shareholders are referred to the SENS announcement dated 13 September 2017 and are advised that caution is no longer required to be exercised by shareholders when dealing in Wearne securities.
26 September 2017
Date: 26/09/2017 09:28:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
Primewaterview Announces the Execution of the Milost Term Sheet
- Created: Monday, 25 September 2017 15:37
- Written by NasdaqGlobeNewswire
LAGOS, Nigeria, Sept. 25, 2017 (GLOBE NEWSWIRE) -- Primewaterview Limited a Nigeria based Real Estate Development & Investment Firm is pleased to announce that it has executed a $2 billion prelisting financing term sheet with Milost Global Inc (the "Investor") to fund its development projects in Nigeria. The financing is expected to be comprised of $1.3 billion in equity capital and $700 million in debt. Milost will also finance the total cost of the IPO for the company on the Nasdaq. On this transaction, Primewaterview Limited was advised by its lead advisor Palewater Advisory Group Inc through its Johannesburg office.
The Chief Executive Officer of Primewaterview Limited, HRH Prince Adetunji Ogunwusi, stated that, “This is a landmark development which will positively impact property and real estate sub sector of the Nigerian economy. I applaud Milost for the massive confidence they have demonstrated in our company and Nigeria as a whole with this investment.”
Milost Global Announces Formation of a New Africa Buyout Fund
- Created: Tuesday, 19 September 2017 09:17
- Written by Nasdaq Globe NewsWire
NEW YORK, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Milost Global Inc. announced today that it has partnered with Monnaie Africa Ltd (“Monnaie”), a Mauritius based Investment holding firm to launch Isilo Fund 1, a new and agnostic Private Equity Fund which will be focused on leveraged buyouts and restructuring of Microcap companies in Africa. Within the month of September, 2017, Milost and Monnaie will form Isilo, a Mauritius GP which will act as the fund manager to Isilo Fund 1. Milost Global Inc. GPs will own 70% interest in Isilo whereas Monnaie will hold 30%. The closed ended Africa Fund will seek to raise a total of $1 billion within the next 9 months and will have a life of 10 years. Isilo will be domiciled in Mauritius, which is increasingly positioning itself as one of the preferred gateways to Africa for global Institutional investors. The GP firm will further house its investment team in Johannesburg, at the Milost Africa headquarters.
Milost Global Inc. (Milost) announces the appointment of Dr. Chin Yew Seah as Head of Milost Asia
- Created: Thursday, 14 September 2017 19:25
- Written by Milost Global Inc
NEW YORK, Sept. 14, 2017 (GLOBE NEWSWIRE) -- Milost Global Inc. announces the appointment of Dr Chin Yew Seah as Head of Milost Asia. Based in Hong Kong and effective from 1 October 2017, Dr. Seah will be reporting to Bernard Yaw, Global Head of Operations. He will be responsible for the continued development of Milost in the Asia Pacific region including Hong Kong, China PRC, Korea, Japan, Malaysia, Indonesia, Thailand, Korea, Indo China countries, Australia, New Zealand, amongst others. He will also be a member of Milost’s Executive Committee and Senior Partner. He will be working from Milost's Asia Headquarters, Two International Financial Centre, 8 Finance Street, Central, Hong Kong.