AFR - AFGRI Limited - Disposal of the business and assets
AFR
AFR
AFR - AFGRI Limited - Disposal of the business and assets
AFGRI Limited
Registration Number: 1995/004030/06
(Incorporated in the Republic of South Africa)
ISIN: ZAE000040549
JSE share code: AFR
("AFGRI" or "the Company")
DISPOSAL OF THE BUSINESS AND ASSETS OF TSUNAMI PLANT PROTECTION (PTY) LTD
("Tsunami Plant") AND TSUNAMI CROP CARE (PTY) LTD ("Tsunami Crop") TO ARYSTA
LIFESCIENCE SOUTH AFRICA(PTY) LTD (formerly called ONINAMIX (PTY) LTD
("Arysta")
Shareholders are referred to the announcement by AFGRI on 1 February 2010.
AFGRI wishes to inform shareholders that all the conditions precedent
relating to the disposal of the entire business of Tsunami Crop and certain
of the assets of Tsunami Plant (i.e. selected assets not used in its
formulation plant) to Arysta have been fulfilled. Accordingly this part of
the transaction has been implemented according to its terms as detailed in
the announcement of 1 February 2010.
Shareholders should be aware that the purchase consideration is still subject
to a possible adjustment and that AFGRI may still receive the earn-out
consideration as described in the announcement of 1 February 2010.
The sale of the formulation plant assets of Tsunami Plant, as described in
the announcement of 1 February 2010, has not yet closed. This transaction is
still subject to the fulfilment of certain conditions and it is expected that
it will close by no later than 30 March 2011.
Centurion
30 April 2010
Sponsor
Investec Bank Limited
Transactional Attorneys for AFGRI Operations and the Tsunami Companies
Webber Wentzel
Transactional Attorneys for Arysta
Shepstone and Wylie
Date: 30/04/2010 15:54:16 Produced by the JSE SENS Department.
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