Delta EMD Limited
(Incorporated in the Republic of South Africa)
Registration number 1919/006020/06
Share code: DTA
("Delta" or "the Group")
SALE OF NELSPRUIT PLANT SITE
Shareholders are referred to the Group?s statement of unaudited
results for the six months ended 27 June 2015 released on the Stock
Exchange News Service of the JSE Limited on 14 July 2015.
Shareholders are now advised that the Group has entered into an
agreement for the sale of the Group?s Nelspruit plant site for a
total selling price of R40 421 800 (forty million four hundred twenty
one thousand eight hundred Rand). The sale includes the land owned
by the Group for many years as well as the land formerly leased by
the Group from Manganese Metal Company and more recently purchased
for R20 000 000 (twenty million Rand) as part of a lease cancellation
settlement. The combined book value of the land to be sold is
R25 948 799 (twenty five million nine hundred forty eight thousand
seven hundred ninety nine Rand).
The purchaser has paid a R2 million deposit into trust and has agreed
to secure bank guarantees for the remainder of the purchase price.
Completion of the sale is conditional upon the Group?s satisfactory
completion of the remediation steps set out in an order to be issued
by the Department of Environmental Affairs in terms of section 37 of
the National Environmental Management Waste Act 59 of 2008. The
Group engaged Golder Associates to prepare a Site Assessment Report
which has been submitted to the Department of Environmental Affairs
and included a proposed remediation plan. The Board continues to be
of the opinion that the provisions reflected on the Group?s 27 June
2015 balance sheet are adequate to cover the costs of undertaking
the remediation actions to be prescribed by the order.
The Group anticipates that the sale will complete during 2016.
14 October 2015
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14/10/2015 04:10:00 Supplied by www.sharenet.co.za
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