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SFN SFNP
SFN
SFN/SFNP - Sasfin Holdings - Acquisition of a further 5.26% interest in
Premier Freight (Proprietary) Limited
SASFIN HOLDINGS LIMITED
(Incorporated In The Republic Of South Africa)
(Registration Number 1987/002097/06)
("Sasfin" or "the Company")
Ordinary share code: SFN ISIN: ZAE000006565
Preference share code: SFNP ISIN: ZAE000060273
ACQUISITION OF A FURTHER 5.26% INTEREST IN PREMIER FREIGHT (PROPRIETARY)
LIMITED ("PREMIER")
1. Details of the transaction
Shareholders are advised that Sasfin has entered into an agreement with A
D Webb ("Webb") for the acquisition by Sasfin of 5.26% of Webb`s
shareholding in Premier, a 63,16% subsidiary of Sasfin, for a purchase
consideration of R3,419 million ("the acquisition"). Post the acquisition
Sasfin will own 68,42% of Premier.
2. Effective date
The effective date of the transaction is 1 October 2009.
3. Conditions precedent
There are no outstanding conditions precedent to the transaction.
4. Pro forma financial effects of the acquisition
The pro forma financial effects of the acquisition on Sasfin`s earnings
per share, headline earnings per share, net asset value and net tangible
asset value per share for the year ended 30 June 2009 are not significant
(i.e. are less than 3%), and are therefore not required to be disclosed.
5. Small related party transaction
The shareholding in Premier has been acquired from Webb, who is a
director of Premier and therefore a related party to Sasfin. The Listing
Requirements of the JSE require written confirmation from an Independent
professional expert that the acquisition is fair to Sasfin shareholders.
Moore Stephens Corporate Finance has confirmed that the acquisition is
fair and their fairness opinion is available for inspection at Sasfin`s
registered offices until 31 January 2010.
18 December 2009
Johannesburg
Lead Sponsor
KPMG SERVICES (PTY) LTD
Joint Sponsor
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 18/12/2009 12:20:01 Produced by the JSE SENS Department.
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