TORRE INDUSTRIES LIMITED - Voluntary announcement in respect of the acquisition of Top Class Automotive
TOR 201705180016A
Voluntary announcement in respect of the acquisition of Top Class Automotive
TORRE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
(Registration number 2012/144604/06)
Share code: TOR
ISIN: ZAE000188629
(“Torre”)
Voluntary announcement in respect of the acquisition of Top Class Automotive
Torre is pleased to inform shareholders that it has concluded an agreement, via its Torre Parts and
Components business unit (“TPC”), to acquire 100% of the shares of Top Class Automotive (Pty)
Ltd (“Top Class”). The acquisition is effective 1 May 2017.
Top Class is an authorised tier one distributor of SKF bearings and related products for the
Automotive, Commercial and Off Highway markets and is also an assembler of wheel bearing kits
for the Automotive aftermarket in South Africa under both proprietary and various private label
brands. Top Class has a high-quality customer base that is complementary to the existing customer
base of TPC.
The Acquisition falls below the threshold of the categorisation of transactions which require
disclosure in terms of the JSE Limited's Listings Requirements. Nevertheless, the Board of Torre
deemed it appropriate to inform shareholders of the Acquisition.
Johannesburg
18 May 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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