BID CORPORATION LIMITED - BID : Voluntary Announcement Regarding The Sale Of Best Food Logistics UK
BID : Voluntary Announcement Regarding The Sale Of Best Food Logistics UK:
Bid Corporation Limited
(Incorporated in the Republic of South Africa)
Registration number: 1995/008615/06
Share Code: BID
ISIN ZAE 000216537
("Bidcorp")
VOLUNTARY ANNOUNCEMENT REGARDING THE SALE OF BEST FOOD LOGISTICS UK
Bidcorp has entered into a contract for the disposal of its Best Food Logistics business in the United
Kingdom (UK) to the Booker Group, a wholly owned subsidiary of Tesco Plc ("the transaction").
As previously indicated to shareholders, the Best Foods activities operate in the QSR contract
logistics market in the United Kingdom and are non-core to Bidcorp. The transaction is subject to
customary conditions precedent including the approval from the Competition and Market Authority
in the UK, which is expected to take several months.
There will be no material financial impact on Bidcorp's consolidated net assets or profit for the year
ending June 30 2020 as a result of the transaction and is furthermore an uncategorised transaction
in terms of the Listings Requirements of the JSE Limited. The Best Food Logistics business has been
classified as a Discontinued Operation in the 2019 financial results, released on August 28 2019.
Shareholders will be advised on the fulfilment of the conditions precedent in due course.
The information contained in this announcement has not been reviewed or reported on by Bidcorp's
external auditors.
Date: October 2 2019
Johannesburg
Sponsor: The Standard Bank of South Africa Limited
Date: 02/10/2019 09:05:00
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