Ellerine Holdings Limited - Announcement regarding the acquisition of the
remaining 50% shareholding in Wetherlys S.L.
Ellerine Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1968/013402/06)
Share code: ELH ISIN: ZAE000022752)
("Ellerines")
Announcement regarding the acquisition of the remaining 50% shareholding in
Wetherlys S.L.
1. Acquisition
Ellerines are pleased to announce that their wholly owned subsidiary, Wetherlys
(UK) Limited, has acquired the remaining 50% shareholding in Wetherlys S.L.
which trades as Wetherlys in Spain ("the acquisition").
2. Rationale for the acquisition
The acquisition will facilitate the acceleration of the expansion of Wetherlys"
operations in Spain. Furthermore, the acquisition is in line with Ellerines"
intention to acquire 100% of Wetherlys" international operations with a view to
expanding them.
3. Consideration for the acquisition
The consideration for the acquisition amounted to Euro 1.2 million, payable on
the effective date, being 12 December 2003.
4. Categorisation of the acquisition
The acquisition is categorised as less than a category 3 transaction in terms of
section 9.5(a) of the Listings Requirements of the JSE Securities Exchange South
Africa. This announcement is, therefore, made in order to provide information
regarding the ongoing activities of Ellerines.
Johannesburg
12 December 2003
Sponsor
Nedbank Corporate
Date: 12/12/2003 01:49:03 PM Supplied by www.sharenet.co.za
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