THE FOSCHINI GROUP LIMITED - Update on acquisition of Retail Apparel Group Fulfilment of conditions precedent
TFG TFGP 201707140027A
Update on acquisition of Retail Apparel Group – Fulfilment of conditions precedent
The Foschini Group Limited
Registration number: 1937/009504/06
Share codes: TFG-TFGP
ISIN codes: ZAE000148466 - ZAE000148516
("TFG" or “the Company”)
Update on acquisition of Retail Apparel Group – Fulfilment of conditions
precedent
Shareholders are referred to the announcement released by the Company on
the Stock Exchange News Service of the JSE Limited on 25 May 2017 regarding
the acquisition, through a wholly-owned subsidiary, of the entire issued
ordinary and preference share capital of RAG Holdco Limited trading as
Retail Apparel Group (“RAG Acquisition”).
Shareholders are advised that all conditions precedent in respect of the
RAG Acquisition have now been fulfilled and that the parties will therefore
proceed to implement the RAG Acquisition in accordance with its terms. As
such, the RAG Acquisition is officially unconditional, thereby resulting in
an effective date of 24 July 2017.
Cape Town
14 July 2017
Sponsor:
UBS South Africa Proprietary Limited
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