BUILDMAX LIMITED - Withdrawal of cautionary announcement and further information relating to the acquisition of Vaal Quarry
BDM 201312190002A
Withdrawal of cautionary announcement and further information relating to the acquisition of Vaal Quarry
BUILDMAX LIMITED
Incorporated in the Republic of South Africa
(Registration No. 1995/012209/06)
Share Code: BDM
ISIN Code: ZAE000167318
("Buildmax" or "the Company")
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT AND FURTHER INFORMATION RELATING TO THE ACQUISITION OF VAAL QUARRY
Shareholders are referred to the cautionary announcement released by the Company on 28 August 2013 and thereafter renewed on 10 October, 21 November and 10 December 2013, respectively. For avoidance of doubt, the Company wishes to confirm that these cautionary announcements referred to two unrelated transactions, namely the acquisition of Vaal Quarry (Pty) Limited (?the Vaal Quarry Transaction?) and the potential acquisition of a services business predominantly operating in contract mining (?the Second Acquisition?).
Shareholders should note that this withdrawal of cautionary announcement refers specifically to the termination of negotiations relating to the Second Acquisition. The terms of the Vaal Quarry Transaction were contained in the announcement dated 10 December 2013. Accordingly, shareholders need no longer exercise caution when dealing in the Company?s securities.
The Vaal Quarry Transaction has been successfully concluded subject to the conditions outlined in the announcement on 10 December 2013. It is anticipated that this will increase the annual output of Buildmax Aggregates and Quarries (Pty) Limited, a wholly-owned subsidiary of the Company, by 29 000 tons per month once full production has commenced.
Benoni
19 December 2013
Sponsor
QuestCo (Pty) Ltd
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