*Shareholders are advised that in terms of an agreement dated 10 October 2005 between the company and Contralesa Investment Holdings (Pty) Ltd, HAHL is to dispose of its entire 42% shareholding in Pumps to Contralesa with effect from 10 October 2005.
*Pumps is a business involved in the design, manufacture, marketing and selling of pumps and related products into the local and African markets.
Terms and conditions pertaining to the disposal :
The Disposal is subject to the conditions that as a notifiable transaction in terms of the Competition Act, such necessary approval be obtained. The consideration to be received in terms of the Disposal is R25 085 340 in cash together with interest thereon at 2% below prime reckoned from 1 July 2005, to the closing date, being the 5th business day following fulfilment of the condition referred to above (calculated to be at a maximum of R1 200 000). The cash proceeds arising from the disposal will be retained by the Company and added to the current cash resources. The disposal is subject to terms and conditions typical in transactions of such nature.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
