Published: 04 July 2017

The Directors of Starafricacorporation Limited ("Star Africa" or "the Company") wish to advise all shareholders that the Company is engaged in discussions that may result in a series of transactions that may have a material impact on the value of the Company's shares.

The series of transactions, which will be treated as a single composite transaction, are being undertaken to achieve the following objectives:
• a standstill period within which interest and principal amounts due to lenders and creditors will be deferred in order to allow for business stabilisation and the build-up of cash flows that will be used to service the restructured debt going forward;
• the restructure of the Company's debt; and
• the raising of new working capital for the Company's operations.

Further details of the transactions will be provided to shareholders once the discussions have been finalised.

The Directors therefore advise shareholders to exercise caution when trading in their Star Africa shares and should consult their professional advisers before dealing in their shares.


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