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Southern View Finance Ltd – Market Announcement
Hamilton, Bermuda – 26 June, 2014 – In a filing with the Bermuda Stock Exchange (“BSX”), Southern View Finance Ltd. (the “Company” or “SVF”; Ticker: SVF.BH) advises that that its subsidiary, Southern View Finance UK Limited (“SVF UK”) has concluded a significant loan agreement with Firstrand Bank Limited. The filing stated:
“INCURRING OF DEBT
In accordance with the requirements of the Bermuda Stock Exchange (“BSX”) listing regulations, the Company hereby announces that its subsidiary, Southern View Finance UK Limited (“SVF UK”) has concluded a loan agreement with Firstrand Bank Limited (acting through its London branch) (“Firstrand”) in terms of which Firstrand has agreed to advance an amount of US$30,000,000 (thirty million US dollars) (the “Loan”) to SVF UK, which amount exceeds 20% of the book value of the consolidated net tangible assets of SVF and its subsidiaries. The Loan is interest bearing and is repayable on or before 30 September 2014. Brait Mauritius Limited, a significant shareholder of the Company, has guaranteed the Loan. The proceeds from the loan will be utilised, amongst other things, for the conduct of SVF UK’s business and general corporate purposes.”
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The Company has a primary listing on the Bermuda Stock Exchange and a secondary listing on the Alternative Exchange of the Johannesburg Stock Exchange Limited.
Bermuda Listing Sponsor:
Global Custody & Clearing Ltd.
Mr. Grant Hopkins
Tel: (441) 294-7039
JSE Sponsor: Bravura Equity Services (Proprietary) Limited