HCI - Hosken Consolidated Investments Limited - Acquisition of a 33 9% interest
HCI
HCI
HCI - Hosken Consolidated Investments Limited - Acquisition of a 33,9% interest
in KWV Holdings Limited
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI & ISIN: ZAE000003257)
("HCI")
ACQUISITION OF A 33,9% INTEREST IN KWV HOLDINGS LIMITED - Voluntary
announcement
1. INTRODUCTION
HCI shareholders are advised that HCI has acquired, via a wholly owned
subsidiary, a total of 23 230 365 ordinary shares in KWV Holdings Limited
("KWV"), constituting 33,9% of the issued ordinary share capital of KWV for
a total purchase consideration of R274,12m (`the acquisition`). The
purchase consideration was funded out of existing cash resources.
2. NATURE OF BUSINESS OF KWV
KWV, which company`s shares are traded over the counter, operates in the
wine and brandy industry.
3. RATIONALE FOR THE ACQUISITION
HCI considers the acquisition to be opportune to further the
diversification of its earnings base.
4. EFFECTIVE DATE
The transaction is effective from 07 February 2011.
5. CONDITIONS PRECEDENT
The acquisition of the KWV interest is not subject to any conditions
precedent.
07 February 2011
Cape Town
Investment Bank and Sponsor: Investec Bank Limited
Date: 07/02/2011 17:22:01 Produced by the JSE SENS Department.
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