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SOUTHERN VIEW FINANCE LIMITED–SUBSCRIPTION AGREEMENT EXECUTED AND REQUIRED DISCLOSURE
Hamilton, Bermuda – 12 November, 2015 – In a filing with the Bermuda Stock Exchange (“BSX”), Southern View Finance Ltd. (the “Company” or “SVF”; Ticker: SVF.BH) today reported that SVF has entered into a subscription agreement with Osiris Property Services Ltd. The filing stated:
DISCLOSURE IN TERMS OF PARAGRAPHS 6.13 AND 6.17 OF SECTION IIA OF THE BERMUDA STOCK EXCHANGE LISTING REGULATIONS: SUBSCRIPTION AGREEMENT EXECUTED
Further to the announcement released on Friday, 6 November 2015, shareholders are advised that the Company has entered into a subscription agreement (“Subscription Agreement”) with Osiris Property Services Ltd (“Osiris”).
In terms of the Subscription Agreement, Osiris will subscribe for 625,000 (six hundred and twenty five thousand) Class A shares with a par value of US$0.0001 (zero point zero zero zero one United States Dollars) each in SVF (“Subscription Shares”) at a subscription price of US$0.80 (eighty United States Cents) per share, amounting to a total value of US$500,000.00 (five hundred thousand United States Dollars).
The authorised Class A share capital of the Company is 5,000,000,000 (five billion) Class A shares. Following the issue of the Subscription Shares the issued Class A share capital will be 625,120 (six hundred and twenty five thousand one hundred and twenty) Class A shares.
All conditions precedent to the Subscription Agreement have been fulfilled. Consequently, the Subscription Shares will be issued and allotted to Osiris with effect from Thursday, 12 November 2015. The Bermuda Stock Exchange (“BSX”) and the Alternative Exchange (“AltX”) of JSE Limited have each granted approval for the listing of the Subscription shares with effect from the same day.
In accordance with the Listing Regulations of the BSX, notice is hereby given that the Class A Shares may be held by the public and will be freely tradable on the BSX from Thursday, 12 November 2015.
The listing of SVF’s Class A shares on the AltX, in so far as it relates to their trading, has been suspended with effect from Monday, 9 November 2015. In accordance with the announcement released on the Securities Exchange News Services on Friday, 6 November 2015, the JSE has granted SVF until April 2016 to enter into an agreement(s), and make an announcement, relating to the acquisition of a viable asset(s) that satisfies the conditions for listing set out in the JSE Listings Requirements, failing which the Company’s listing on the AltX will be removed.
The Company maintains a primary listing on the BSX and a secondary listing on the AltX.
12 November 2015
Hamilton/Johannesburg
BSX sponsor: Global Custody and Clearing Limited
JSE sponsor: Bravura Capital Proprietary Limited
SOUTHERN VIEW FINANCE LIMITED
(Incorporated in Bermuda with registration number 47305)
Class A share codes: BSX: SVF.BH JSE: SVF ISIN: BMG829251013
Class B share codes: BSX: SVFB.BH JSE: SVFB ISIN: BMG829251195
("SVF" or "the Company")