VISUAL INTERNATIONAL HOLDINGS LIMITED - Business Update and Cautionary Announcement

Business Update and Cautionary Announcement

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

BUSINESS UPDATE AND CAUTIONARY ANNOUNCEMENT

Business update
Shareholders are referred to the announcement published on 12 October 2018 advising of the reason
for the delay in the publication of the Company’s yearend results, i.e. being partly due to the
Company having to secure alternative funding following the non-payment of the consideration in
terms of the previously announced claw-back offer as advised to shareholders, and the fact that the
Company is in the process of securing additional equity funding, being the Specific Issue referred to
below.

Shareholders are advised that the Company has been approached by a number of parties
regarding an equity investment into Visual. Additionally, the Company has received two expressions
of interest to acquire the Stellendale Junction land. The board of directors is in the process of
evaluating the various scenarios and deliberating on the best way forward for the Company and its
shareholders.

Shareholders are also referred to the announcement published on 7 September 2018 regarding the
specific issue of shares for cash to Robco Holdings Proprietary Limited and TLP Investments One Five
Four Proprietary Limited, or their nominees (“Specific Issue”). Shareholders are advised that the
subscription agreements, which were still subject to a number of suspensive conditions, between the
Company and these parties have lapsed. The parties are in discussions regarding the revival of these
subscription agreements, including with other third parties, and a further announcement in this
regard will be made in due course.

Cautionary announcement
Shareholders are advised that the aforementioned negotiations, if successfully concluded, may have
a material effect on the price of the Company’s securities. Accordingly, shareholders are advised
to exercise caution when dealing in the Company’s securities until a full announcement is made.

Cape Town
28 November 2018

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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