EDGARS CONSOLIDATED STORES LIMITED - ACQUISITION OF TOPIC(S)
EDGARS CONSOLIDATED STORES LIMITED
`Edcon`
(Reg. No. 1946/022751/06)
(Incorporated in the Republic of South Africa)
Share Code: ECO ISIN Code: ZAE000018388
ACQUISITION OF TOPIC(S)
Edcon is to acquire the business of Topic(s) for a cash consideration, at a
discount to Net Asset Value. This is in line with Edcon`s stated strategy of
making select, reasonably priced acquisitions to complement its core businesses
in the apparel and footwear retail sector.
Topic(s) trades out of approximately 120 stores with a mix of locations suitable
for continued Edcon expansion, with a total selling area of approximately 30,000
square metres. It generates turnover of over R320 million and has a desirable
debtors book of approximately 200 000 customers.
The Topic(s) turnover is less than 2.5% of Edcon`s and the purchase price is of
an immaterial nature to Edcon`s trading results.
This acquisition is subject to a due diligence and approval by the Competition
Authorities and if approved will be effective 29 May 2005.
Crown Mines
24 January 2005
Sponsor
Cazenove
Date: 24/01/2005 12:00:05 PM
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