IVT
IVT
IVT - Invicta Holdings Limited - Announcement
Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Share code: IVT & ISIN code: ZAE000029773
("Invicta")
ANNOUNCEMENT
Invicta has acquired 60% of Tiletoria, and importer and distributor of wall and
floor tiles, for cash in a transaction valued at R46 million. The remaining 40%
will be retained by management. Invicta expects the building industry to show
healthy growth over the medium to long term, and has entered the market in via
Tiletoria, which services mainly the Western Cape and has potential to grow
nationally. It gives Invicta a third industry leg to its existing two of
engineering consumables (bearings and transmission products), and capital
equipment (agricultural and construction machinery), while remaining within the
group`s area of expertise, viz the importation and distribution of industrial
(and now building) products and consumables. The transaction is subject to
certain conditions precedent, including Competition Commission approval. The
effective date will be 1 March 2007. Although the acquisition is not material to
Invicta and does not require any formal disclosure in terms of the JSE Listings
Requirements, the board of directors considered it appropriate to advise
investors and shareholders of this strategic investment.
Cape Town
22 December 2006
Sponsor Legal Advisor
Deloitte & Touche Sponsor Services Bernadt Vukic Potash & Getz
Date: 22/12/2006 12:00:03 Produced by the JSE SENS Department.
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