Cullinan - Acquisition Of Hylton Ross Tours (Propr
CUL
CUL
Cullinan - Acquisition Of Hylton Ross Tours (Proprietary) Limited
("Hylton Ross")
Cullinan Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1902/001808/06)
Share code: CUL & ISIN: ZAE000013710
("Cullinan")
ACQUISITION OF HYLTON ROSS TOURS (PROPRIETARY) LIMITED ("Hylton Ross")
The board of directors of Cullinan wishes to advise that all of the conditions
precedent to the Hylton Ross acquisition have now been fulfilled and the
acquisition is therefore unconditional.
Hylton Ross is a well-known brand providing coaching services and sightseeing
tours and excursions in the Western Cape. It is profitable and well managed.
The acquisition has been funded out of Cullinan"s own resources and it will
have a positive impact on earnings per share.
Cullinan, which is quoted in the Travel & Leisure sector of the JSE Limited,
is a holding company that invests in travel and tourism related products in
Southern Africa. Hylton Ross provides an entry into the coaching and
sightseeing markets which will not only add to the spread of the already
extensive investment in travel logistics. It will also provide a useful lever
to fulfilment of the travel needs of visitors before, during and after the
2010 World Cup, which is expected to have a major impact on this sector for
many years to come.
By order of the board
Johannesburg
14 August 2006
Corporate adviser
Lanark Financial Services
Sponsor
LPC Manhattan Moela
LPC Manhattan Moela (Pty) Ltd
(Registration number 2001/009215/07)
Date: 14/08/2006 11:23:52 AM Produced by the JSE SENS Department
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