This is one meeting that Mr. Chami will miss.

Establishment of industrial division & acquisition:

Background
Atlas is creating an industrial division to allow it to leverage its expertise and position in the regional market and to broaden its business offering, thereby
developing diverse revenue streams comprising both cyclical services generated and non-cyclical industrial generated revenues.

The initial focus of the industrial division will be the ownership, via acquisition or construction, of consumer based industrial projects. There will be significant internal synergies and efficiencies as construction of industrial projects will be supported by Atlas’ services division.

Acquisition Agreement:
Atlas has today entered into the Acquisition Agreement to acquire EAPH (the “Acquisition”). EAPH was established by certain Directors to incubate the Chanco Project. Atlas will pay no consideration in relation to the Acquisition. Under the terms of the Acquisition Agreement, the Company has agreed, subject to an increase in the Company’s headroom at the General Meeting on 1 December 2015, to take on third party funding liability of approximately US$150,000 in respect of EAPH’s working capital investments incurred to date.
The Chancho Project and the Ethiopian market:
EAPH is currently in the feasibility stages of a project which will see it complete the construction and operation of a new state-of-the-art glass bottle manufacturing facility 45 kilometres north of the Ethiopian capital Addis Ababa. EAPH’s principal
assets comprise a long lease on the land identified for the construction of the facility and the intellectual property relating to the Chancho Project. Commissioning of the facility is scheduled for 2018 and full production will commence in early 2019. The
new production facility is expected to have capacity to produce 105 million 330ml bottles per annum. The total capital expenditure is estimated at US$42 million which is expected be funded on a staged basis by a mixture of debt from local development banks, other debt providers, industrial partners and equity, once various milestones have been achieved. The initial cash commitment to complete the full feasibility study is US$3-4 million.
The key raw materials required for glass production (being silica sand, limestone, dolomite, feldspar, soda ash) are readily available in Ethiopia, thereby reducing the project’s exposure in this regard. Silica sand and limestone deposits are found in both the Mugher Valley and Blue Nile river valley (60-85 kilometres from Addis Ababa), while dolomite, feldspar and soda ash can also be sourced domestically;
preliminary assessments of potential sources and studies of local mining operations carried out by EAPH confirm appropriate grades are available.
The Ethiopian government has designated manufacturing as a top priority, and support via development debt funding is, in principle, available for projects that
substitute imports. Ethiopia represents one of the fastest growing economies in the world, as a result of rising income, population growth, well managed infrastructure spending, and stable government policies.
For the last five years, due to increasing consumer demand and a young demographic, Ethiopia has been attracting significant investment from international
beverage companies, with over $500 million invested to date. Beer production has been growing at a CAGR of 14.3% over the last 14 years with an additional 47%
capacity currently under construction.
The demand for glass bottles is largely unmet by local production and is at present mainly satisfied by expensive imports. There is strong demand for locally produced glass bottles in Ethiopia which Atlas aims to meet, through the development of the Chancho Project.
A full presentation on the Company’s new industrial division and the Chancho Project is available on the Company’s website www.atlassupport.com

3 December 2015

Atlas Development & Support Services Limited (‘Atlas’ or the ‘Company’)
Completes Acquisition of Ethiopian Bottling Plant Project

Atlas (AIM, NSE: ADSS) is pleased to announce that it has completed its acquisition of East Africa Packaging Holdings Limited (‘EAPH’), a company established to build a new state-of-the-art glass bottle manufacturing facility, 45 kilometres north of Addis Ababa, Ethiopia (the ‘Chancho Project’). This acquisition follows the Company’s recent
establishment of an industrial division, which is looking to capitalise on the emerging Ethiopian consumer market, and complements Atlas’ established in-country presence.

Chief Executive of Atlas, Carl Esprey said, “The Chancho Project is currently in feasibility
stage and will provide Atlas with access to the rapidly growing Ethiopian consumer market. This acquisition marks the first step in a defined development strategy, which will result in high quality, locally produced glass bottles being available to the growing Ethiopian beer and beverage industries. As we progress we will aim to keep
shareholders updated on a regular basis as well as provide information as and when we achieve major development milestones.

“Ethiopia represents one of the fastest growing economies in the world, as a result of rising income, population growth, well managed infrastructure spending, and stable government policies. It has been attracting significant investment from international
beverage companies, with over $500 million invested to date, and beer production has been growing at a compound annual growth rate of 14.3% over the last 14 years. Despite these growth rates, the demand for glass bottles is largely unmet by local production and is, at present, mainly satisfied by expensive imports.”

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