MST - Mustek - Disposal by Rectron Holdings Limited of Interest in Corex It
MST
MST
MST - Mustek - Disposal by Rectron Holdings Limited of Interest in Corex It
Distribution Dynamics (Proprietary) Limited - Small Related Party Transaction
MUSTEK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/070161/06)
Share Code: MST
ISIN Code: ZAE000012373
("Mustek" or "the company")
DISPOSAL BY RECTRON HOLDINGS LIMITED ("RECTRON") OF INTEREST IN COREX IT
DISTRIBUTION DYNAMICS (PROPRIETARY) LIMITED ("COREX") - SMALL RELATED PARTY
TRANSACTION
1. roduction
Shareholders are referred to the announcement released on SENS on Tuesday, 1
February 2011 and in the press on Wednesday, 2 February 2011, where they were
advised that Rectron, a wholly owned subsidiary of Mustek, has entered into a
Sale of Shares Agreement dated 31 January 2011 in terms of which Rectron
disposed of its 60% stake in Corex to Chao-Chung (Fred) Lu ("the purchaser") for
a total cash purchase price of R9 790 549, with effect from the effective date,
being 1 January 2011 ("the transaction").
Shareholders are hereby advised that the Mustek board of directors has appointed
Merchantec Capital as the independent expert ("expert") to provide it with a
fairness opinion on the transaction. Both the expert and their fairness opinion
have been approved by the JSE Limited.
2. Opinions
The fairness opinion by the expert indicates that the transaction is fair
insofar as the shareholders of Mustek are concerned. A copy of the fairness
opinion is available for inspection at the company`s registered office for 28
days from the date of this announcement.
The board of directors of Mustek has considered the terms and conditions of the
transaction and after considering the opinion of the expert, is of the opinion
that the transaction is fair to all Mustek shareholders.
Midrand
15 February 2011
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
Independent expert
Merchantec Capital
Date: 15/02/2011 10:00:02 Produced by the JSE SENS Department.
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