Issue of new shares

Name of Issuer Dale Capital Group Limited
Country of Incorporation Republic of Mauritius
Registration Number BVI.1443428
ISIN Number MU0227N00002
Share Code ZXDCG

Issue of new shares

  1. Issue of new shares to holders of convertible debentures
  2. Shareholders and the general public are referred to the announcement released by the Company on 20 February 2020, whereby it was announced by the Board of directors (the “Board”) that the Listing Executive Committee of the Stock Exchange of Mauritius Ltd (”SEM”) had approved the listing of up to 30,939,243 new shares at an issue price per share equal to the 30 day weighted average traded price less 10%, at the date of conversion of the debentures currently in issue. The Board now wishes to inform the shareholders and the general public that the Company will issue 30,939,243 new Dale shares to the holders of convertible debentures at a price of MUR 1.72 per share on Friday, 19 February 2021.
  3. Issue of new shares by way of private placement
  4. Shareholders and the general public are hereby informed that the Company has placed 59,163,069 new shares with targeted investors at an issue price of MUR 1.72 per share following a private placement of shares carried out today, 18 February 2021. The proceeds from this private placement will be used to settle loans from existing shareholders and also to settle amounts currently owed to directors and various service providers. The new shares placed with investors shall be issued on Friday, 19 February 2021, subject to receipt all requisite Exchange approvals.
  5. Date of listing of the new shares
  6. The new shares to be issued to the holders of the convertible debentures and to the participants in the private placement, are expected to list and trade on the Official Market of the SEM and on ZAR X as from Friday, 19 February 2021. The new shares will rank pari passu in all respects with existing shares in issue. Following the issue of the new shares, the Company shall have a total of 292,143,232 shares in issue.

Dale Capital has a primary listing on the Official Market of the SEM and a secondary listing on ZAR X.

By order of the Board
18 February 2021

Appointed Advisor
AcaciaCap Advisors
Proprietary Limited

SEM authorised representative and sponsor
Perigeum Capital

Company Secretary
NWT Secretarial Services Ltd

This announcement is issued pursuant to SEM Listing Rule 15.24, the ZAR X Listing Rules and the Mauritian Securities Act 2005. The Board of the Company accepts full responsibility for the accuracy of the information in this announcement.