BRIEF-Sabvest Says JAA Increased Its Investment In DNI From 34.9 Pct To 46 Pct

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BRIEF-Sabvest Says JAA Increased Its Investment In DNI From 34.9 Pct To 46 Pct
Credit: © Reuters.

April 2 (Reuters) - Sabvest Ltd SBVJ.J :

* SABVEST LTD - JAA HAS INCREASED ITS INVESTMENT IN DNI FROM 34,9% TO 46%.

* SABVEST - CO, WHICH CURRENTLY OWNS 28,4% OF JAA, TO TAISE INVESTMENT IN JAA TO 34,78% IN TWO TRANCHES TOTALING R118,5M BY 29 APRIL & BY 29 JUNE 2019

* SABVEST LTD - ADDITIONAL INVESTMENT IN JAA BY SABVEST WILL BE R118,5M BY WAY OF A SUBSCRIPTION FOR ADDITIONAL ORDINARY SHARES IN JAA

* SABVEST LTD - INVESTMENT AMOUNT WILL BE FUNDED FROM SABVEST'S CASH RESOURCE

* SABVEST LTD - THERE WILL BE NO EFFECT ON NAV PER SHARE

* SABVEST LTD - WILL BE NO EFFECT ON NAV PER SHARE AS INVESTMENT AMOUNT AND FAIR VALUE OF INVESTMENT ARE EXPECTED TO BE SAME ON DATE OF INVESTMENT

* SABVEST LTD - THERE WILL BE NO EFFECT ON HEPS AND EPS AS A RESULT OF JAA INVESTMENT

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