TRUWORTHS INTERNATIONAL LIMITED - BUSINESS ACQUISITION
TRUWORTHS INTERNATIONAL LIMITED
(Registration number 1944/017491/06)
JSE Share Code: TRU
ISIN: ZAE000028296
("the company")
BUSINESS ACQUISITION
Truworths International Limited ("Truworths") is pleased to announce that it has
concluded an agreement to acquire a controlling interest in Young Designers
Emporium ("YDE") with effect from 1 December 2003. The agreement is inter alia
conditional upon satisfactory findings during a due diligence investigation and
the approval of competition authorities.
The YDE chain offers leading edge niche fashion merchandise under various
emerging labels, and operates nationally from ten stores in premier shopping
malls, as well as from a factory shop outlet. The founder of the business, Paul
Simon, has been retained as YDE"s chief executive officer and together with his
brother Mark will hold a minority interest.
The intended acquisition will be financed from the group"s cash resources and is
not expected to have a significant effect on Truworths headline earnings, or net
asset value, per share for the year to 30 June 2004.
Chris Durham
Company Secretary
Truworths International Limited
Tel 021 4607502
Fax 021 4607132
7 January 2004
Date: 07/01/2004 01:13:02 PM Produced by the JSE SENS Department
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