LABAT AFRICA LIMITED - Update on the acquisition of RTG
LAB 201603230031A
Update on the acquisition of RTG
LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat” or “the Company”)
ISIN Code: ZAE 000018354 Share code: LAB
UPDATE ON ACQUISITION OF REINHARDT TRANSPORT GROUP PROPRIETARY LIMITED (“RTG”)
Following on from our announcement of 17 March 2016, shareholders are now advised
that after a thorough review of the actual performance of RTG for the year to date, it is
clear that the projected profits will not be met as published in our circular dated
18 November 2015. The envisaged transaction and the funding of the various BEE
applicants was based on those projections. Accordingly, it is impossible to see how the
envisaged transaction can proceed on the basis of the terms approved by Labat
shareholders at the general meeting held on Friday, 18 December 2015.
As a result of the above, shareholders are advised to continue to exercise caution in
dealing in their securities until a further announcement is made.
Johannesburg
23 March 2016
Sponsor
Arbor Capital Sponsors Proprietary Limited
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