Momentum - Acquisition of shares in Advantage
Momentum Group Limited
Registration number
1904/002186/06
("Momentum")
ACQUISITION OF SHARES IN ADVANTAGE
Momentum is proud to announce that its subsidiary Momentum International Multi-
Managers Limited ("MIMM") will acquire the shareholding in Advantage Asset
Managers (Pty) Limited ("Advantage") that it does not already hold from M Cubed
Holdings Limited for an amount of R140 million ("the transaction"). MIMM and
WDB Investment Holdings Limited will then own all the shares in Advantage. The
transaction is still subject to certain regulatory approvals.
Momentum regards Advantage as a strategic investment and intends to build
strongly on the success that has been achieved since the creation of Advantage.
Advantage is the second largest multi-manager in South Africa, with R42.5
billion of assets under management and administration and has a strong and
dedicated management team.
Centurion
17 November 2005
Merchant bank
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Attorneys
Hofmeyr Herbstein & Gihwala Inc.
Date: 17/11/2005 05:53:07 PM Produced by the JSE SENS Department
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