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VISUAL INTERNATIONAL HOLDINGS LIMITED - Confirmation of Receipt of First Draw Down in Relation to the Funding Agreement between Visual and Milost Global Inc

Release Date: 17/11/2017 17:49
Code(s): VIS     PDF:  
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Confirmation of Receipt of First 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)
(“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.

Johannesburg
17 November 2017

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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