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KEL
KEL - Kelly Group Limited - Kelly listed on JSE
Kelly Group Limited
(Formerly LogicalOptions Staffing (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1999/026249/06)
Share code: KEL
ISIN number: ZAE000093373
KELLY LISTED ON JSE
Johannesburg, 3 April 2007 - Comprehensive employment services provider
the Kelly Group was today listed on the JSE`s main board in the Support
Services - Business Training and Employment Agencies sector under the
abbreviated name "Kelly."
This follows a substantially oversubscribed private placing in which a
range of institutional and retail investors took up 38 605 544 Kelly Group
shares at R9 per share for a total value of R347.4 million. Furthermore,
the Brait Private Equity Funds have agreed to sell, in terms of a separate
agreement, an additional 3 900 000 Kelly Group shares at the placement
price to existing directors and management of the Kelly Group. After the
listing the company`s largest shareholders and their holdings are expected
to be Brait Private Equity Funds (20.9%); Safika Group (18.8%); management,
staff, directors and Frontline vendors (24.2%); Coronation Asset Managers
(4.4%); Old Mutual (4.2%); Stanlib (4.0%) and RMB Asset Management (3.1%).
Brait Private Equity Funds are finalising the sale of a further 10.0% to a
new broad based empowerment group, which includes Safika.
Speaking at the JSE this morning, Kelly Group chief executive Grenville
Wilson said since the business was established in the Sixties its name had
become virtually synonymous with staffing services in South Africa. After
going through a number of changes it had emerged in recent years as a
clearly focused and strongly performing player in a high-growth market
providing the comprehensive employment services and outsource solutions
urgently required by our buoyant economy.
"While we were putting in place our strategy of leveraging brand power and
niche specialisation, we have also been nurturing our distinctive corporate
culture - a culture which is results-driven but based on the values of
honesty, empathy, ubuntu, passion and teamwork. We`re a business that is
essentially for and about people, which is why we place so much emphasis on
the human factor. Competitors can replicate the tangible elements of our
operations, but not the true difference we can and will achieve at the
personal interface by listening, partnering and delivering on our
promises," Wilson said.
For further information call Grenville Wilson, CEO Kelly Group,
on 011 722 8009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Issued by du Plessis Associates on behalf of Kelly Group Limited
dPA contact Helen McKane Tel : +27 11 728 4701, Fax: +27 11 728 2547,
Mobile: 082 330 2034 or e-mail: kellygroup@dpapr.com
Website : www.kellygroup.co.za
Date: 03/04/2007 08:14:50 Produced by the JSE SENS Department.
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