| Thu 28 Oct 2010, 7:05 | | AVU - Avusa Limited - Finalisation of the acquisition |
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AVU
AVU
AVU - Avusa Limited - Finalisation of the acquisition
Avusa Limited
(Incorporated in the Republic of South Africa)
(Registration number 2008/002461/06)
JSE share code: AVU
ISIN: ZAE000115895
("Avusa")
Finalisation of the acquisition by Avusa of the entire issued share capitals of
Universal Print Group (Proprietary) Limited ("UPG") and Hirt & Carter
(Proprietary) Limited ("H&C") from UHC Communications (Proprietary) Limited
("UHC" or "the Seller"), as well as any claims that the Seller may have against
UPG and H&C ("the Acquisition")
Shareholders are referred to the announcement dated 14 October 2010, relating to
the approval by Avusa shareholders of the resolutions necessary to effect the
Acquisition, and containing details of the suspensive conditions remaining to be
fulfilled or waived, as the case may be ("the Suspensive Conditions").
Shareholders are hereby notified that all of the Suspensive Conditions have now
been fulfilled or waived, and the Acquisition is therefore effective on Monday,
1 November 2010 ("the Effective Date").
In terms of the agreement between the parties governing the Acquisition, Avusa
is required to settle the Acquisition consideration with the Seller on the fifth
business day after the Effective Date, being Monday, 8 November 2010 ("the
Closing Date"). The 20 555 555 new Avusa shares, which are required to be
issued to the Seller as part-payment of the Acquisition consideration, will be
issued and listed on the JSE Limited on the Closing Date. The cash portion of
the Acquisition consideration, being an amount of R337 500 000, together with
interest thereon from 1 October 2010 until the Closing Date, will be paid by
Avusa to the Seller on the Closing Date.
Johannesburg
28 October 2010
Investment bank, corporate adviser and sponsor
Nedbank Capital, a division of Nedbank Limited
Legal advisers
Werksmans Inc.
Date: 28/10/2010 07:05:15 Produced by the JSE SENS Department.
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