15 February 2016
Atlas Development & Support Services Limited
(‘Atlas’ or the ‘Company’)
Proposed Private Placing and Notice of General Meeting
The Board today announces its intention to raise approximately $5 million through an issue of new
Ordinary Shares by way of a Placing at a Placing Price of 0.325 pence (KES 0.48) per Ordinary
Share. The proceeds of the Placing will be used to fund a full feasibility study for the Company’s
Chancho Project in Ethiopia, a new state-of-the art glass manufacturing facility 45km north of the
capital, Addis Ababa, as well as initial construction works.
The Board also announces that it will be posting a notice and circular convening a General Meeting
to vote on resolutions relating to the Placing and to the proposed change of name to “Atlas African
Industries Limited” to be held at 12 noon (UK Time) on 10 March 2016 at Richmond House, St
Julian’s Avenue, St Peter Port, Guernsey GY1 1GZ (the “GM”).

Use of Proceeds
The net proceeds of the Placing will be used to fund a full feasibility study on the Chancho Project,
as well as initial construction works. The detailed use of proceeds is as per below.
 Approximately $1.5 million for breaking the ground and construction of ancillary buildings
 Approximately $1.5 million required for deposits on long lead items
 Approximately $1.0 million required for site preparation/water drilling
 Approximately $1.0 million for services of engineering consultants and performance of
feasibility studies

Expected Timetable
The Placing, subject to the satisfaction of certain conditions, will be conducted through a
bookbuilding process to qualified investors, which will be launched immediately following this
announcement. The Placing is expected to close no later than 13.00 p.m (UK Time) on 15 February
2016. The Placing Shares will be issued on or before 15 March 2016, subject to, inter alia, the
receipt of shareholder approval of the necessary resolutions to enable the issue of the Placing
Shares and relevant regulatory approvals.

The full expected timetable for the Placing is below.

Event Date
Placing opens Immediately upon publication of this announcement
Placing closes 13:00 p.m (UK Time) on 15 February 2016
General Meeting 12 noon (UK Time) on 10 March 2016
Admission and settlement On or before 08:00 a.m (UK Time) on 15 March 2016

Expected date for CREST accounts to be credited (where appropriate)
On or before 08:00 a.m (UK Time) on 15 March 2016
The timetable is subject to change at the discretion of the Company in consultation with Stifel
Nicolaus Europe Limited.
The Placing is conditional on, inter alia, admission of the Placing Shares to AIM (“Admission”)
approval from the Capital Markets Authority of Kenya, and pursuant thereto admission of the
Placing Shares to the GEMS segment of the Nairobi Securities Exchange; the Placing Agreement to
be entered into between the Company and Stifel not being terminated prior to Admission and
approval of the necessary resolutions in relation to the Placing at the GM. The Placing is not being
underwritten.
The number of new Ordinary Shares that will be issued as part of the Placing will be agreed by the
Company and Stifel at the close of the bookbuilding period. The final allocations under the Placing
are at the absolute discretion of the Company and Stifel. The results of the Placing will be
announced as soon as practicable after the close of the bookbuilding process.
The new Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all
respects with the existing Ordinary Shares of the Company.
The full terms and conditions of the Placing are set out in the Appendix of this announcement. By
choosing to participate in the Placing, Placees will be deemed to have read and understood this
announcement in its entirety (including the Appendix) and to be making an offer on the terms and
conditions and providing the representations, warranties, acknowledgements and undertakings
contained therein.

I still don't understand why ADSS trades at a premium at the NSE. The nerves to pull off such sheer fraud

Currently trading at 0.335 pence at LSE. http://www.lse.co.uk/Sha...ice.asp?shareprice=ADSS

0.335 pence = 0.00335 pounds (£).
GBP/KES = 148

Price in KES at LSE = 0.00335 x 148 = 0.4958 = 45cts!!!

This thing should be trading around 0.45 - 0.50cts level.

ADSS NSE price today is KES 1.60.

Why the wide spread (1.6 - 0.50 = 1.1)? I asked the same query last Sept. NSE needs to explain this nonsense

The Capital Markets Act
Chapter 485A of the Laws of Kenya
Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002 (as amended)

PROPOSED PRIVATE PLACEMENT OF SHARES

The Board of the Company is pleased to announce that it has successfully raised US$5 million before expenses by way of a proposed issue of 1,064,307,692 new ordinary shares of no par value in the Company (the “Placing Shares”) at a price of 0.325 pence per ordinary share (the “Placing”).

The Board of the Company has also recommended to the shareholders to approve the resolutions to be proposed at the upcoming general meeting of the Company to be held on 10 March, 2016 (the notice of which will be circulated in accordance with the Articles of Incorporation of the Company) and which will:
(i) authorise the directors to issue the Placing Shares wholly for cash on a non-preemptive basis and to effect the listing of the Placing Shares on the AIM Market of the London Stock Exchange and the Growth and Enterprise Market Segment (“GEMS”) of the Nairobi Securities Exchange;
and
(ii) change the name of the Company from “Atlas Development & Support Services Limited” to “Atlas African Industries Limited”.

The Placing Shares will be issued credited as fully paid and will on admission rank in full for all dividends and other distributions declared, paid or made after admission in respect of the ordinary shares of the Company and otherwise pari passu in all respects with the existing ordinary shares of the Company.

The Placing is conditional on, inter alia, approval from the Capital Markets Authority of Kenya to the
issuance and listing of the Placing Shares on the GEMS, admission of the Placing Shares to AIM Market
of the London Stock Exchange and the GEMS segment of the Nairobi Securities Exchange (“Admission”), the placing agreement to be entered into between the Company and Stifel Nicolaus Europe Limited not being terminated prior to Admission and approval of the shareholders.

BY ORDER OF THE BOARD