Ceramic - Acquisition Of A 50% Interest In Sphinx Bathroomware (Proprietary)
Limited
CERAMIC INDUSTRIES LIMITED(Incorporated in the Republic of South Africa)
(Registration number 1982/008520/06)
Share code: CRM
ISIN NUMBER: ZAE 000008538(`Ceramic` or `the company`)
ACQUISITION OF A 50% INTEREST IN SPHINX BATHROOMWARE (PROPRIETARY) LIMITED
1. Introduction
Shareholders are advised that Ceramic has acquired 50% of the issued shares inSphinx Bathroomware (Proprietary) Limited (`Sphinx`) (`the acquisition`).
Sphinx`s founding member, Peter Coleman, will retain the remaining 50% of
Sphinx`s issued share capital and continue in his role as Sphinx`s managing
director.2. Nature of business of Sphinx
Sphinx is based in Springs and is South Africa`s largest manufacturer of acrylic
bathroomware, which includes acrylic baths, shower trays and spas. Sphinx has a
strong local and international client base with 50% of its revenue earned fromexports to Europe.
3. Rationale
Prior to the acquisition, Ceramic was unable to offer its customers a complete
range of bathroomware as it did not manufacture baths, spas and shower trays.The acquisition now positions Ceramic to offer a full range of bathroomware to
its customers. Ceramic and Sphinx have a large number of common customers and
the acquisition is expected to strengthen relationships with these common
customers.4. Consideration
The consideration for the acquisition will to be settled in cash from Ceramic`s
existing resources.
5. Categorisation of the acquisitionThis announcement is voluntary in terms of the JSE Securities Exchange South
Africa Listings Requirements and is made to provide stakeholders with
information regarding the ongoing activities of Ceramic.
Centurion31 May 2005
Sponsor
Nedbank CapitalDate: 02/06/2005 10:30:03 AM Produced by the JSE SENS Department
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