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PKH
PKH
PKH - Protech Khuthele Holdings - Acquisition And Withdrawal Of Cautionary
Protech Khuthele Holdings Limited
(formerly M&W Prinsloo Management Services (Pty) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2000/024352/06)
JSE code: PKH & ISIN: ZAE000101986
("Protech" or "the Company")
ACQUISITION OF THE BUSINESS OF IMPACT COMPACTION (PROPRIETARY) LIMITED
("IMPACT COMPACTION") AND WITHDRAWAL OF CAUTIONARY
Shareholders are referred to the cautionary announcements published on SENS on
7 March 2008 and in the press on 10 March 2008 and renewed on SENS on 18 April
2008 and in the press on 21 April 2008 and are advised that Protech is pleased
to announce that it has entered into an agreement to acquire the business of
Impact Compaction ("the transaction"). Impact Compaction specialises in soil
compaction using the impact compactors it manufactures. It also hires out the
compactors to the construction industry, complete with the required hauler and
an operator, or with sub-contracts to carry out the compaction work itself.
The impact compactors typically are three sided or five sided rollers that are
towed behind heavy duty haulers. Impact compactors are used on construction
sites throughout the country - from roads, highways, railways, dams, power
stations, mass housing, factories and sports fields to ash dumps - and there
is growing demand for this type of equipment. Protech believes that the
acquisition will be of great strategic value as it further enhances the
service offering of the group specifically as far as it relates to fast-track
contracting ability which is Protech`s speciality.
The effective date of the transaction is 1 June 2008 subject to the fulfilment
of all conditions precedent. Shareholders are advised that certain conditions
precedent have not yet been met and as such the transaction is not yet
concluded. There will however not be any material effect on the group or its
performance in the unlikely event that the conditions precedent are not met.
The transaction falls below the threshold of the categorisation of
transactions which require disclosure in terms of the JSE Limited`s Listings
Requirements. Nevertheless, due to the strategic nature and importance of this
acquisition the directors of Protech deemed it appropriate to inform
shareholders of the transaction.
Withdrawal of cautionary
Shareholders are hereby advised that caution is no longer required to be
exercised when dealing in the Company`s shares.
Johannesburg
29 May 2008
Sponsor
Deloitte & Touche Sponsor Services (Proprietary) Limited
(Registration number 1996/000034/07)
Date: 29/05/2008 14:10:01 Produced by the JSE SENS Department.
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