|
SFN SFNP
SFN
SFN/SFNP - Sasfin Holdings Limited - Acquisition of the remaining 31.58%
interest in Premier Freight Proprietary Limited
SASFIN HOLDINGS LIMITED
(Incorporated In The Republic Of South Africa)
(Registration Number 1987/002097/06)
("Sasfin" or "the Company")
Ordinary share code: SFN ISIN: ZAE000006565
Preference share code: SFNP ISIN: ZAE000060273
ACQUISITION OF THE REMAINING 31.58% INTEREST IN PREMIER FREIGHT PROPRIETARY
LIMITED ("PREMIER")
1. Details of the transaction
Shareholders are advised that Sasfin has entered into an agreement with G C
Taylor, E D Farber and P J Steyn ("the sellers") for the acquisition by Sasfin
of an aggregate of 31.58% of the seller`s shareholding in Premier, a 68,42%
subsidiary of Sasfin, for a total purchase consideration of R20,529 million in
cash ("the acquisition"). Post the acquisition Premier will be a wholly owned
subsidiary of Sasfin.
2. Nature of Premier business
Premier is a multi model freight forwarding concern offering:
- logistical solutions to the fields of international freight forwarding, both
by air or sea;
- customs clearance;
- domestic deliveries; and
- warehousing distribution solutions.
3. Rationale for the acquisition
The acquisition is part of the Group`s strategy to grow & expand this service
offering into a broader commercial solutions business.
4. Effective date
The effective date of the transaction is 14 March 2012.
5. Conditions precedent
There are no outstanding conditions precedent to the transaction.
6. Pro forma financial effects of the acquisition
The pro forma financial effects of the acquisition on Sasfin`s earnings per
share, headline earnings per share, net asset value and net tangible asset value
per share for the interim period ended 31 December 2011 are not significant
(i.e. are less than 3%), and are therefore not required to be disclosed.
7. Small related party transaction
The shareholding in Premier has been acquired from the sellers, who are
directors of Premier and therefore are related parties to Sasfin. Pursuant to
discharging its obligation in terms of the Listing Requirements of the JSE
Sasfin has engaged BDO Corporate Finance to provide written confirmation as an
independent professional expert that the acquisition is fair to Sasfin
shareholders. BDO Corporate Finance has confirmed that the acquisition is fair
and its fairness opinion is available for inspection at Sasfin`s registered
offices until 17 April 2012.
19 March 2012
Johannesburg
Lead Sponsor
KPMG SERVICES (PTY) LTD
Joint Sponsor
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 19/03/2012 10:32:33 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.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
