BRT BRN
BRT
BRT/ BRN - Brimstone Investment Corporation - Voluntary announcement regarding
Brimstone`s Investment in The Scientific Group (Proprietary) Limited
BRIMSTONE INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1995/010442/06)
Share Code: BRT
ISIN Number: ZAE000015277
Share Code: BRN
ISIN Number: ZAE000015285
("Brimstone" or "the Company")
VOLUNTARY ANNOUNCEMENT REGARDING BRIMSTONE`S INVESTMENT IN THE SCIENTIFIC GROUP
(PROPRIETARY) LIMITED
Holders of ordinary and "N" ordinary Brimstone shares are advised that
Brimstone, as part of a consortium which includes funds under the management of
Capitalworks Equity Partners, is in the process of acquiring The Scientific
Group (Proprietary) Limited ("The Scientific Group") from the current majority
shareholder ("the transaction").
In terms of the transaction, Brimstone, which currently holds 26% in The
Scientific Group, will increase its effective economic interest therein. The
transaction is subject to various conditions precedent, including Competition
Commission approval.
Represented countrywide and into Sub-Saharan Africa, The Scientific Group is a
supplier of high quality science and medical equipment. The Clinical Division
services the public and private pathology laboratories, the Biosciences Division
caters for specialised molecular biology and biotechnology equipment consumables
and reagents whilst the Medical Division provides first world hospital equipment
and corrective products for the cardiology market. These divisions are
complemented by one of the largest Service Divisions in the country. Further
information on The Scientific Group can be found at www.scientificgroup.com.
It should be noted that the value of the transaction for Brimstone is less than
5% of Brimstone`s market capitalisation and accordingly this announcement is
made by the Company voluntarily.
Cape Town
23 November 2010
Investment bank and sponsor
Nedbank Capital
Date: 23/11/2010 10:04:43 Produced by the JSE SENS Department.
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