ASTRAPAK LIMITED - SUBSIDIARY TIES UP EMPOWERMENT DEAL
ASTRAPAK LIMITED
(Registered in the Republic of South Africa)
(Registration number: 1995/009169/06)
ISIN: ZAE000030938
Share Code: APK
("Astrapak")
SUBSIDIARY TIES UP EMPOWERMENT DEAL
The Board of Astrapak wishes to inform linked unitholders that a black
empowerment consortium has acquired 25% plus 1 share of PAK 2000 (Proprietary)
Limited ("PAK 2000"), a wholly owned subsidiary of Astrapak, which is the
leading manufacturer of plastic containers for the South African petrochemical
industry. The consortium comprises Durban-based entrepreneurs Michael Maziya and
Anand Raidoo.
The consideration for the sale of shares in an amount of R12.5-million is to be
settled over a seven-year period through a combination of cash and vendor
finance. Both members of the consortium have been appointed to the Board of PAK
2000 with immediate effect.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 07/04/2004 05:56:01 PM Produced by the JSE SENS Department
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