SABVEST CAPITAL LIMITED - Voluntary announcement re sale of interests in Rolfes
Voluntary announcement re sale of interests in Rolfes
SABVEST CAPITAL LIMITED
(Incorporated in South Africa)
(Registration number 2020/030059/06)
Share code: SBP
ISIN: ZAE000283511
("Sabcap" or "the Company")
VOLUNTARY ANNOUNCEMENT RE SALE OF INTERESTS IN ROLFES
Sabcap is pleased to advise shareholders that agreements have been concluded for Solevo MEA
B.V. (Solevo) to acquire 100% of Rolfes Holdings Proprietary Limited (Rolfes) and thereafter to
dispose of 12,5% to Afropulse Group Proprietary Limited who will be Solevo's RSA partner in Rolfes
(the transactions).
The transactions are subject to regulatory approvals.
Sabcap will receive approximately R179,5m in cash (the proceeds) from the disposal of its 24,66%
economic interest in Rolfes which it holds directly through a subsidiary and indirectly through its
interests in Masimong Chemicals Proprietary Limited. The proceeds may vary depending on the
outcome of certain claims, contingency provisions and the disposal of a property asset.
Sabcap will utilize the proceeds to reduce its interest bearing debt.
Sandton
1 August 2024
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01-08-2024 02:05:00
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