Control Instruments Group Limited - Acquisition Of
Control Instruments Group Limited - Acquisition Of Dana
Control Instruments Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1964/003987/06)
JSE Share Code: CNL
ISIN: ZAE000001665
("Control Instruments")
ACQUISITION OF DANA SOUTH AFRICA (PROPRIETARY) LIMITED -
FULFILMENT OF CONDITIONS PRECEDENT
At the general meeting of shareholders of Control Instruments held on
23 September 2005, the requisite majority of shareholders approved the
resolutions necessary to effect the acquisition of the entire issued share
capital in Dana South Africa (Proprietary) Limited ("Dana SA") ("the
acquisition").
Control Instruments has also been advised that the Competition Commission has
unconditionally approved the acquisition.
The necessary legal agreements between Standard Bank and Control Instruments to
allow draw-down of the loan facilities provided by Standard Bank for the
acquisition have also been completed.
Accordingly, the agreement for the acquisition is now unconditional. The
transfer of the shares in Dana SA became effective from 5 October 2005 and the
associated payment is expected to take place during October 2005.
Cape Town
10 October 2005
Investment bank and sponsor
Standard Bank
Date: 10/10/2005 03:45:04 PM Produced by the JSE SENS Department
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