IVT
IVT
IVT - Invicta - Announcement
Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Share code: IVT & ISIN code: ZAE000029773
("Invicta")
ANNOUNCEMENT
Shareholders are referred to the separate announcements dated 17 October 2007
regarding the acquisitions of Doosan Infracore South Africa (Pty) Limited
("Doosan SA") and Goldquest International Hydraulics (Pty) Limited
("Goldquest").
Doosan SA
Invicta is pleased to announce that the acquisition of Doosan SA has been
successfully concluded, effective 1 April 2008. Doosan SA is in the business of
the supply of capital equipment and spare parts in the construction and related
sectors, with quality products sourced from South Korea. Steps to consolidate
the operations and implement management interventions will take place in the
upcoming year, with the business planned to make a positive contribution to the
Group in the short to medium term.
Goldquest
Shareholders are advised that certain of the conditions precedent for the
acquisition of 85% of Goldquest have not been met and accordingly the group is
not able to conclude the acquisition at this stage. There will, however, be no
material effect on the group or its performance as a result thereof.
The group will continue to seek suitable acquisitions which complement its
existing businesses. Management is of the opinion that current economic
conditions will lead to opportunities for good, well-priced acquisitions, and
the group has significant funding resources which will enable it to take
advantage of such opportunities.
Cape Town
18 April 2008
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
Date: 18/04/2008 10:28:48 Produced by the JSE SENS Department.
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