ARB HOLDINGS LIMITED - Voluntary announcement regarding the acquisition of Elektro Vroomen (Pty) Limited
ARH 201212110020A
Voluntary announcement regarding the acquisition of Elektro Vroomen (Pty) Limited
ARB HOLDINGS LIMITED
(Registration number: 1986/002975/06)
Share code: ARH ISIN: ZAE000109435
(“ARB”)
VOLUNTARY ANNOUNCEMENT REGARDING THE ACQUISITION OF ELEKTRO
VROOMEN (PTY) LIMITED
ARB is pleased to announce that its subsidiary, ARB Electrical
Wholesalers (Pty) Limited (“ARB Electrical”),has concluded an
agreement for the acquisition of 100% of the issued shares of
Elektro Vroomen (Pty) Limited (“Elektro Vroomen”) from The
Shamic Trust effective 1 January 2013 ("the acquisition").
Established in 1959, Elektro Vroomen is an electrical
wholesaling operation with branches in Bloemfontein and Kathu.
The acquisition provides ARB Electrical with an established
presence and customer base in the Free State as well as in the
fast-growing mining node of Kathu, Northern Cape. Following
the acquisition, ARB Electrical’s national footprint will
comprise 19 branches including a presence in all nine
provinces.
The acquisition falls below the 5% threshold for transaction
categorisation in terms of the JSE Limited's Listings
Requirements, therefore this announcement is made voluntarily.
Durban
11 December 2012
Sponsor
Grindrod Bank Limited
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