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RLF
RLF
RLF - Rolfes Technology Holdings Limited - Transfer to the main board
and acquisition of Amazon Colours
ROLFES TECHNOLOGY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 2000/002715/06)
JSE Share Code: RLF
ISIN: ZAE000096202
("Rolfes" or "the Company")
TRANSFER TO THE MAIN BOARD AND acquisition of AMAZON COLOURS (Pty) Ltd
("AMAZON")
1. TRANSFER TO THE MAIN BOARD
Shareholders are advised that the JSE Limited ("JSE") has approved
the transfer of the listing of the company`s ordinary shares from
the Alternative Exchange "Speciality Chemicals" sector to the Main
Board of the JSE (under the sector "1357 Speciality Chemicals"),
with effect from Monday, 21 November 2011.
2. ACQUISITION OF AMAZON
Shareholders are further advised that Rolfes has concluded a
transaction in terms of which it acquired 70% of the equity
interest in and shareholders` claims against Amazon for a total
cash consideration of R5.25 million, effective 1 November 2011
("the acquisition"). The acquisition is subject to normal terms and
conditions for a transaction of this nature, including standard
warranties, indemnities and a restraint of trade for the exiting
shareholder. Comprehensive shareholders` and employment agreements
have been concluded with the remaining 30% and founding
shareholder, Andrew James Reay. He will be retained in the business
as an executive director for a minimum period of 3 years, and is
also subject to a three year restraint of trade on exit.
Amazon is a well known manufacturer of water-based pigment
dispersions for the paint industry, specifically supplying the
point of sale dispersions market, a market which Rolfes as yet has
not entered. The acquisition will:
* expand Rolfes` dispersions offering into the point of sale
market
* expands Rolfes` limited capacity for manufacturing water-based
pigment dispersions for the coatings industry;
* result in improved product quality and potentially realise
manufacturing cost-savings;
* provide Rolfes with access to Amazon`s comprehensive
intellectual property and well respected name and brand in the
market place;
* present a good strategic fit with Rolfes` export business into
Africa; and
* allow Rolfes to expand its dispersion business into other
international markets, such as South America.
The acquisition is not categorised for purposes of the Listings
Requirements of the JSE.
2 November 2011
Corporate Advisor and Designated Advisor:
Grindrod Bank Limited
Date: 02/11/2011 11:06:51 Produced by the JSE SENS Department.
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