| Thu 17 Jun 2010, 16:46 | | SFN/SFNP - Sasfin - Acquisition by Sasfin of the entire issued share capital of |
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SFN/SFNP - Sasfin - Acquisition by Sasfin of the entire issued share capital of
Capital Hill Corporate Finance (Proprietary) Limited
SASFIN HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/002097/06)
("Sasfin")
Ordinary share code: SFN ISIN ZAE000006565
Preference share code: SFNP ISIN ZAE000060273
ACQUISITION BY SASFIN OF THE ENTIRE ISSUED SHARE CAPITAL OF CAPITAL HILL
CORPORATE FINANCE (PROPRIETARY) LIMITED
1. INTRODUCTION
Sasfin Corporate Finance is pleased to announce that Sasfin Bank Limited
("Sasfin Bank"), a subsidiary of Sasfin, has concluded an agreement with
the shareholders of Capital Hill Corporate Finance (Proprietary) Limited
("Capital Hill") in terms of which Sasfin Bank has acquired the entire
issued share capital of Capital Hill ("the transaction").
2. RATIONALE
Sasfin Corporate Finance, a division of Sasfin Bank, has historically
provided the full suite of corporate advisory services but with a
particular focus on the provision of sponsor services. It currently has a
sponsor client base of approximately 25 JSE Limited ("JSE") listed
companies and has ranked in the top 3 for the past 2 consecutive years in
the Dealmakers Awards in its relevant category.
Capital Hill is an independent corporate finance boutique and accredited
sponsor with the JSE that has previously focused on the provision of merger
and acquisition advisory services, including restructurings and disposals,
equity and debt capital markets and Black Economic Empowerment
transactions. In the five years since its inception, Capital Hill has
developed strong relationships across a broad range of sectors, including
resources, cement and construction, and is renowned for its exceptional
client commitment levels and for providing innovative advice and solutions.
The transaction combines Sasfin Corporate Finance`s distinguished
regulatory and technical competencies with Capital Hill`s strong deal
origination and execution capabilities creating an ideal platform to
provide a powerful, integrated and comprehensive corporate finance
offering. In addition, the leverage provided by Sasfin`s broader financial
services offering and the ability to access the Eastern capital markets
through Sasfin Asia`s presence and networks further strengthens Sasfin
Corporate Finance`s service offering.
3. EFFECTIVE DATE
The effective date of the transaction was 1 April 2010.
4. CONDITIONS PRECEDENT
Following the receipt of South African Reserve Bank approval on 10 June
2010, all conditions precedent to the transaction have been fulfilled.
5. PRO FORMA FINANCIAL EFFECTS
The pro forma financial effects of the transaction on Sasfin`s earnings per
share, headline earnings per share, net asset value per share and net
tangible asset value per share for the six month period ended 31 December
2009 are not significant (ie. are less than 3%), and are therefore not
required to be disclosed.
17 June 2010
Johannesburg
Lead sponsor
KPMG SERVICES (PTY) LTD
Joint sponsor
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 17/06/2010 16:46:01 Produced by the JSE SENS Department.
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