|
TMT
TMT
TMT - Trematon - Acquisition of an interest in Mazor Group Limited
Trematon Capital Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/008691/06
Share code: TMT
ISIN: ZAE000013991
("Trematon" or "the Company")
ACQUISITION OF AN INTEREST IN MAZOR GROUP LIMITED
Introduction
The board of directors of Trematon is pleased to announce that Trematon has
entered into an agreement in terms of which it will purchase an equity interest
of 49 % in a Black Economic Empowerment company called Cloudberry Investments 18
(Proprietary) Limited ("Cloudberry") from the founding shareholders of Mazor
Group Limited ("Mazor"), Doba Judy Mazor and Shlomo Mazor ("the acquisition").
Cloudberry will be controlled by Abubaker Varachhia who will purchase 51 % of
the equity in the company. Cloudberry will, subject to certain conditions
precedent, in turn purchase 18 million shares (an interest of 14.7%) in Mazor,
which was listed on the Alternative Exchange of the JSE Limited ("JSE") on 21
November 2007, from existing shareholders of Mazor.
Background and rationale for the investment
Mazor is a leading provider of structural steel and aluminium solutions to the
construction market. Mazor is a market leader in its field and is well
positioned to capitalize on future spending on infrastructure in South Africa.
The investment is expected to generate substantial long-term capital profits for
Trematon.
Shareholders wishing to obtain more information on Mazor are referred to the
abridged pre-listing statement published on SENS on 7 November 2007 and in the
press on 8 November 2007.
Purchase consideration
Trematon will acquire its interest in Cloudberry and thus in Mazor for a total
purchase price of R28.5 million, which is payable in cash.
Effective date
The effective date of the transaction is 21 November 2007
General
The acquisition will not have a significant effect on the earnings, headline
earnings, net asset value and tangible net asset value of the company.
Cape Town
22 November 2007
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 22/11/2007 16:26:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
