SFN / SFNP - Sasfin Holdings - Proposed Transaction Regarding The Specific

Tue, 24 Jun 2008

SFN                                                                             
SFN / SFNP - Sasfin Holdings - Proposed Transaction Regarding The Specific      
                             Issue Of Shares For Cash                           
Sasfin Holdings Limited                                                         
(Incorporated in the Republic of South Africa)                                  
("Sasfin" or "the company")                                                     
(Ordinary share code: SFN                                                       
ISIN: AE000006565)                                                              
(Preference share code: SFNP                                                    
ISIN: ZAE000060273)                                                             
Registration Number: 1987/002097/06                                             
PROPOSED TRANSACTION REGARDING THE SPECIFIC ISSUE OF SHARES FOR CASH TO CIRCLE  
CAPITAL 
VENTURES (PROPRIETARY) LIMITED ("CIRCLE CAPITAL")                       
Shareholders are referred to the announcement released on 11 September 2007,    
wherein they were informed that Sasfin had, subject to the fulfilment of certain
suspensive conditions, entered into an agreement in terms of which it would     
allot and issue 9 630 000 new Sasfin ordinary shares to Circle Capital as a     
specific issue of shares for cash at a subscription price of R51.40 per share   
("the transaction"). Shareholders are also referred to the announcement released
on 4 March 2008 wherein shareholders were advised that the transaction had been 
marginally downscaled.                                                          
The parties have now agreed that, in light of turbulence in the global credit   
and equity markets, it is not possible to conclude a transaction on appropriate 
terms acceptable to Sasfin, Circle Capital and Circle Capital's funders, and    
therefore the 
transaction will not be implemented.                              
TRADING STATEMENT                                                               
Shareholders are advised that the headline earnings per share and earnings per  
share of Sasfin for the twelve months ending 30 June 2008 are expected to be in 
line with those for the previous comparable period, being the twelve months     
ended 30 June 2007.                                                             
The financial information on which this trading statement is based has not been 
reviewed or reported on by Sasfin's auditors.                                   
24 June 2008                                                                    
Waverley, Johannesburg                                                          
Lead Sponsor:                                                                   
KPMG Services (Proprietary) Limited                                             
Joint Sponsor:                
                                                  
Sasfin Capital                                                                  
(a division of Sasfin Bank Limited)                                             
Corporate Law Advisers:                                                         
Edward Nathan Sonnenbergs Inc.                                                  
Date: 24/06/2008 16:07:01 Produced by the JSE SENS Department.                  
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