KAP INDUSTRIAL HOLDINGS LIMITED - Voluntary Announcement: Disposal Of Footwear Assets
KAP 201406090043A
Voluntary Announcement: Disposal Of Footwear Assets
KAP INDUSTRIAL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration Number 1978/000181/06)
Share code: KAP
ISIN: ZAE000059564
(“KAP” or “the Group”)
VOLUNTARY ANNOUNCEMENT: DISPOSAL OF FOOTWEAR ASSETS
For information purposes only.
KAP is pleased to announce that, in line with its
strategy to focus on strategic industrial assets within
emerging markets, it has successfully concluded the sale
of its footwear interests, being Jordan Shoes, Wayne
Plastics, United Fram Footwear and Mossop-Western
Leathers (“the Footwear Division”).
The Footwear Division has been sold to Bolton Footwear
(Pty) Ltd (“Bolton”), a South African based diversified
footwear manufacturer. Bolton, together with Beier
Safety Footwear (Pty) Ltd and other parties, will
establish two significant footwear groups focussing on
safety footwear and fashion footwear. The Footwear
Division will be integrated into these new footwear
groups, which bodes well for the future of the Footwear
Division.
The transaction is still subject to approval by the South
African Competition Authorities. KAP will continue to
manage the business until such time as the relevant
approvals have been obtained.
KAP thanks the management team for their efforts and
assistance during the sales process and wishes them well
for the future.
The transaction does not constitute a reportable
transaction as contemplated in terms of section 9 of the
JSE Listings Requirements and accordingly the
announcement is made on a voluntary basis.
9 June 2014
Stellenbosch
Sponsor:
PSG Capital
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