Bowler Metcalf - Expansion
Bowler Metcalf Limited
("Bowler Metcalf")
ISIN: ZAE000030797
JSE Share code: BCF
Bowler Metcalf Limited ("Bowler Metcalf") has purchased one share in Quality
Beverages 2000 (Pty) Ltd ("Quality") with effect from 19 August 2003 . The
purchase consideration will be settled by way of the issue of 66 667 ordinary
shares in Bowler Metcalf to the Sarang Family Trust at a price of 300 cents per
share equating to R200 001.
In addition subject to the approval of the Competition Commission, Bowler
Metcalf intends to subscribe for a further forty shares, to be issued by Quality
at a price of R150 000.00 per share, to be settled in cash, equating to a
further consideration of R6 000 000.00 .
The investment is to be made with a view to erecting an improved contract
bottling plant in Epping, Cape Town. The new facility includes a 10500 m2
factory which houses mixing, filling and packaging facilities to a required
international standard. The new facility should be operational in November 2003.
The investment is expected to have a positive effect on the earnings of Bowler
Metcalf from the 2004 year onwards.
On behalf of the board
M Brain
Managing director
H W Sass
Chairman
Date: 29/08/2003 01:44:14 PM
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