January 5, 2018 / 3:24 PM / in 10 months

BRIEF-African Dawn Capital Announces Disposal Of Remaining Interest In Grindstone

Jan 5 (Reuters) - African Dawn Capital Ltd:

* ‍ENTERED INTO A SALE AGREEMENT WITH GRINDSTONE ACCELERATOR PROPRIETARY LIMITED, THINKROOM CONSULTING AND KNIFE CAPITAL

* ‍WILL SELL ITS ENTIRE SHAREHOLDING IN GRINDSTONE, COMPRISING 50% OF TOTAL ISSUED SHARE CAPITAL OF GRINDSTONE TO PURCHASER​

* ‍PROCEEDS OF DISPOSAL WILL BE USED TO SETTLE PART OF THIS OUTSTANDING TAX DEBT.​

* ‍TOTAL PURCHASE CONSIDERATION PAYABLE BY PURCHASER FOR SALE SHARES IS AN AMOUNT OF 1.8 MILLION RAND PAYABLE IN CASH ​ Source text for Eikon: Further company coverage:

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