WORKFORCE HOLDINGS LIMITED - Fulfillment of Conditions Precedent in Respect of the KBC Acquisition and Acquisition of Oxyon
WKF 201702270006A
Fulfillment of Conditions Precedent in Respect of the KBC Acquisition and Acquisition of Oxyon
Workforce Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2006/018145/06)
Share code: WKF ISIN: ZAE000087847
(“Workforce” or “the Company” or “the Group”)
FULFILLMENT OF CONDITIONS PRECEDENT IN RESPECT OF THE KBC HOLDINGS ACQUISITION
AND ACQUISITION OF OXYON HUMAN CAPITAL SOLUTIONS
Further to the announcement released on SENS on 12 January 2017 (and using the terms defined therein
unless otherwise stated), regarding the acquisition of KBC Holdings, shareholders are hereby advised that all
conditions precedent have been fulfilled and the Acquisition is now unconditional.
Shareholders are further advised that Workforce, through its operating subsidiary, Workforce Group
Proprietary Limited has acquired the business of Oxyon Human Capital Solutions Proprietary Limited
(“Oxyon”), as a going concern, comprising of its customer contracts and contractor base (“Oxyon Acquisition”).
Oxyon is a Temporary Employment Service and permanent placement recruitment business which has been
in existence for over 20 years. Oxyon has been active in providing technical and artisanal skills to the
engineering industry. The Oxyon Acquisition is aligned to the Group’s strategy of expanding its technical and
artisanal business offerings.
Workforce anticipates benefitting from numerous cross-selling opportunities into Oxyon’s existing client base
by offering Workforce’s suite of complementary Human Resource solutions in addition to Oxyon’s traditional
services.
The Oxyon Acquisition falls below the threshold of a categorised transaction in terms of the Listings
Requirements of the JSE Limited and its announcement is therefore voluntary.
Johannesburg
27 February 2017
Designated Adviser
Merchantec Capital
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