1TM - 1time - Competition Commission Approval Granted For Acquisition Of A 77.5%
1TM
1TM
1TM - 1time - Competition Commission Approval Granted For Acquisition Of A 77.5%
Interest In Safair Technical (Pty) Limited, Withdrawal Of Cautionary
Announcement And Fuel Hedging
1time Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/017536/06)
(JSE code: 1TM ISIN: ZAE000102026)
("1time" or "the company")
COMPETITION COMMISSION APPROVAL GRANTED FOR ACQUISITION OF A 77.5% INTEREST IN
SAFAIR TECHNICAL (PTY) LIMITED, WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT AND FUEL
HEDGING
1. COMPETITION COMMISSION APPROVAL GRANTED
Shareholders are referred to the announcements issued on 12 September 2008
and 23 December 2008 where it was announced that 1time had entered into an
agreement with Aergo SA Three Limited, in respect of the acquisition of a
77.5% interest in Aergo`s wholly owned subsidiary Safair Technical (Pty)
Limited subject to various conditions precedent.
Shareholders are advised that unconditional approval by the Competition
Commission has been received by 1time on 20 January 2009. Shareholders will
be advised when all other conditions precedent have been fulfilled.
2. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcement issued on 23
December 2008 where it was announced that 1time had entered into Heads of
Agreement with Solenta Investment Holdings (Pty) Ltd ("Solenta") and ACIA
Aero Holdings Limited ("ACIA") in respect of a potential funding
arrangement and the granting of an option to subscribe for shares in 1time.
Shareholders are advised that negotiations with Solenta and ACIA have been
terminated and caution is no longer required when dealing in securities of
1time.
3. HEDGING
Shareholders are advised that 1time has entered into a zero cost collar to
hedge approximately 30% of its fuel requirement for the 3 months April to
June 2009 at current oil levels and a fixed Rand rate.
Johannesburg
30 January 2009
Designated Adviser
Exchange Sponsors
Date: 30/01/2009 17:09:02 Produced by the JSE SENS Department.
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