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BRT BRN
BRT
BRT/BRN - Brimstone - 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 referred to the
announcement released by the Company on SENS on 23 November 2010 regarding
the acquisition by Brimstone, as part of a consortium which includes funds
under the management of Capitalworks Equity Partners, of The Scientific Group
(Proprietary) Limited ("The Scientific Group") from the current majority
shareholder ("the transaction") and are advised that all conditions precedent
to the transaction have been met, or where appropriate, waived. The effective
date of the transaction will be 1 February 2011.
In terms of the transaction, Brimstone, which currently holds 26% in The
Scientific Group, will increase its effective economic interest therein to
28.2%.
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 medical devices to both the public and private sector hospitals. 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
28 January 2011
Sponsor
Nedbank Capital
Date: 28/01/2011 07:06:02 Produced by the JSE SENS Department.
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