Arch Equity - Acquisition of 29,4% of the Indevco Group of companies
ARCH EQUITY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2004/004019/06)
Share code: ACH ISIN: ZAE000061073
(`Arch Equity`)
ANNOUNCEMENT WITH REGARDS TO THE ACQUISITION OF 29,4% OF THE INDEVCO GROUP OF
COMPANIES
PSG Capital is authorized to announce that Arch Equity concluded a transaction
in terms whereof they acquired 29,4% of the issued share capital of Indevco
Holdings (`Indevco`), a holding company that owns controlling interests in
Indevco Business Consultants (Incentives) (Pty) Ltd, Indevco Business
Consultants (Services) (Pty) Ltd, Indevco Business Consultants (Human Capital)
(Pty) Ltd and Export Credit Exchange (Pty) Ltd and a 50% interest in Indevco
Business Consultants (Customs) (Pty) Ltd.
These companies provide consultancy and other associated services relating to
investment and export incentive programmes administered by the DTI and customs
related matters such as the drawback of import duties. Export Credit Exchange
(Pty) Ltd provides an electronic trading platform for the trading of Import
Rebate Credit Certificates. The Indevco head office is in Port Elizabeth and it
has offices in Gauteng, Durban and Cape Town.
Mr Desmond Lockey, Arch Equity`s CEO, will be appointed as chairman of the
Indevco board and he is confident that this investment will generate a healthy
return in the current and future financial years.
Designated advisor
PSG Capital Limited
(Registration number: 2002/017362/06)
Date: 09/05/2005 03:50:25 PM
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