GPL - Grand Parade Investments Limited - Voluntary announcement: Implementation
GPL
GPL
GPL - Grand Parade Investments Limited - Voluntary announcement: Implementation
of acquisition
Grand Parade Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
("GPI" or "the company")
VOLUNTARY ANNOUNCEMENT: IMPLEMENTATION OF ACQUISITION BY GPI OF THE ROUTE
OPERATOR BUSINESS OF PLAYMETER LEISURE SERVICES (PTY) LTD ("PLAYMETER")
Shareholders are referred to the voluntary announcement released by GPI on SENS
on 30 November 2010 wherein shareholders were advised that Thuo Gaming Gauteng
(Pty) Ltd ("Thuo GG"), being a wholly owned group subsidiary of GPI, had
concluded a binding sale of business agreement to acquire the assets and site
operator contracts of Playmeter`s route operator business in Gauteng, including
its Route Operator License, subject to the fulfillment of certain conditions
precedent ("the acquisition").
Shareholders were further advised in the aforementioned announcement that full
details of the purchase consideration and the method of payment would be
disclosed once all regulatory approvals for the acquisition had been obtained.
The board is pleased to advise shareholders that all conditions precedent to the
acquisition have been fulfilled. The acquisition was accordingly implemented on
Friday, 29 April 2011 for a total purchase consideration of R25 000 000 (twenty
five million rand), of which R23 170 000 (twenty three million one hundred and
seventy thousand Rand) was settled through the issue of 8 128 436 ordinary
shares in GPI and the remainder was settled in cash.
03 May 2011
Cape Town
Sponsor - PSG Capital (Pty) Ltd
Corporate Advisor - Leaf Capital (Pty) Ltd
Legal advisors - Bernardt Vukic Potash & Getz Attorneys
Date: 03/05/2011 09:00:02 Produced by the JSE SENS Department.
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