VUN - Vunani in discussions with Kagiso Trust Investments regarding the
VUN
VUN
VUN - Vunani in discussions with Kagiso Trust Investments regarding the
acquisition of Kagiso Securities
VUNANI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/020641/06)
JSE code: VUN
ISIN: ZAE000110359
("Vunani or the company")
Vunani in discussions with Kagiso Trust Investments regarding the acquisition
of Kagiso Securities
Vunani wishes to inform shareholders that it is currently in discussions with
Kagiso Trust Investments regarding the possible acquisition of Kagiso
Securities. Any agreement in this regard is subject to regulatory approvals
and a due diligence, which is currently underway.
The proposed acquisition is in line with Vunani`s stated strategy of building
a strong financial services platform in South Africa and the region. Should
the transaction be successful, Kagiso Securities will be integrated with the
rest of Vunani`s stockbroking business. The transaction is expected to
enhance Vunani`s product offering.
This proposed acquisition of Kagiso Securities is unrelated to the
negotiations referred to in the cautionary announcement published by the
company on 29 September 2010. Furthermore, Vunani does not anticipate that
the acquisition, if concluded, will be large enough to be categorised as
either a Category 1 or 2 transaction in terms of the JSE Limited`s Listings
Requirements, neither does Vunani anticipate that the acquisition will have a
material effect on the company`s share price. Shareholders of the company
will be kept informed on developments as the process unfolds.
Sandton
26 October 2010
Independent Designated Adviser: Grindrod Bank Limited
Joint Designated Adviser: Vunani Corporate Finance
Date: 26/10/2010 16:25:01 Produced by the JSE SENS Department.
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