| Tue 1 Feb 2011, 8:23 | | AFR - AFGRI Limited - Acquisition of Rossgro Chickens (Pty) Limited - Further |
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AFR
AFR
AFR - AFGRI Limited - Acquisition of Rossgro Chickens (Pty) Limited - Further
announcement
AFGRI Limited
Registration Number: 1995/004030/06
(Incorporated in the Republic of South Africa)
ISIN: ZAE000040549
JSE share code: AFR
("AFGRI" or "the Company")
1 INTRODUCTION
Shareholders are referred to AFGRI`s announcement released on the
Securities Exchange News Service ("SENS") of the JSE Limited ("the JSE") on
Tuesday, 10 August 2010 ("the Announcement") and published in the press on
Thursday, 12 August 2010, wherein shareholders were informed of AFGRI
Poultry (Proprietary) Limited`s (formerly and at the time of the SENS
announcement, Daybreak Farms (Proprietary) Limited) ("the Purchaser")
intention to acquire, the business of Rossgro Chickens (Proprietary)
Limited ("the Seller"), as a going concern, upon the fulfilment of certain
suspensive conditions ("the Conditions) ("the Transaction").
2 AMENDMENTS
2.1 The parties to the binding sale of business agreement referred to in
paragraph 1 of the Announcement ("the Agreement") have entered into an
addendum thereto ("the Addendum"), in terms of which the purchase price as
detailed in paragraph 2.3.1 of the Announcement has been reduced by R8 000
000 from R228 000 000 to R220 000 000.
2.2 Save as disclosed in paragraph 2.1 above, there has been no significant
change affecting any matter contained in the Announcement and no other
significant new matter has arisen that would have been required to be
mentioned in the Announcement if it had arisen at the time of the
preparation of the Announcement.
3 CONDITIONS PRECEDENT
Pursuant to the Addendum being entered into, the Conditions to the
Transaction, referred to in paragraph 3 of the Announcement, have been
fulfilled and the Transaction became unconditional on 28 January 2011. In
terms of the Agreement, the effective date is the date on which the
Agreement becomes unconditional or 31 January 2011, whichever is the later
date. Accordingly, the effective date of the Agreement is 31 January 2011
and the closing date of the Transaction is 12 business days following such
date, being 16 February 2011.
Centurion
1 February 2011
Sponsor
Investec Bank Limited
Attorneys for the Company, AFGRI Operations and the Purchaser
Webber Wentzel
Attorneys for the Seller
Edward Nathan Sonnenbergs
Date: 01/02/2011 08:23:00 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
