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Update on acquisition of Masterfreight Internationale Spedition GMBH, Germany and acquisition of AEMC Trading Agency
SANTOVA LIMITED
(Registration Number: 1998/018118/06)
("Santova")
Share Code: SNV
ISIN: ZAE000159711
UPDATE ON ACQUISITION OF MASTERFREIGHT INTERNATIONALE SPEDITION GMBH, GERMANY
AND ACQUISITION OF AEMC TRADING AGENCY, SOUTH AFRICA
ESTABLISHMENT OF NEW OFFICES IN HAMBURG, GERMANY
Shareholders are referred to the SENS published on 12 November 2014 announcing the acquisition
of Masterfreight Internationale Spedition GmbH ("Masterfreight"), a freight forwarding and clearing
agent based in Frankfurt, Germany focused on air freight imports and exports.
The Board of Santova is pleased to announce the expansion of Masterfreight through the
establishment of a new office in Hamburg, Germany effective 1 April 2015, which will be focused on
sea freight imports and exports. This expansion is part of the Group's strategy to establish sea and
air freight capabilities in all major transportation gateways throughout Europe.
STRATEGIC ACQUISITION OF AEMC TRADING AGENCY, SOUTH AFRICA
INTRODUCTION
The Board of Santova is pleased to announce that Santova Logistics (Pty) Limited a wholly owned subsidiary of
Santova has agreed to acquire the business of AEMC Trading Agency (Pty) Limited ("AEMC") on a going
concern basis and to be operated going forward as a separate division of Santova Logistics (Pty) Limited.
RATIONALE
AEMC is a procurement and logistics business founded in 1996 and based in Cape Town offering specialist
services in the areas of cross border transport, warehousing and projects to clients requiring a point to point
solution for moving cargo in Africa. The acquisition of AEMC is part of Santova's stated strategy to expand its
services and footprint into Africa and will have a synergist impact on Santova's already established projects
capability.
CONSIDERATION AND CATEGORISATION
The total maximum purchase consideration for AEMC may be up to R1.6 million depending on the
achievement of future profit warranties, which is less than 5% of the company's market capitalisation
and is thus neither a category 1 or 2 transaction in terms of the JSE Listings Requirements. The
board, however, considers it prudent to inform shareholders of this strategic acquisition for Santova.
The effective date of the acquisition will be 1 May 2015. The acquisition is subject to certain
conditions precedent and the purchase price will be settled partially in cash and partially in shares.
The acquisition is expected to have a positive impact on the Group's results, however the full effects
of this will only be felt in future financial periods and will not materially affect the Group's results for
the 2016 financial year end.
5 May 2015
Durban
Sponsor and Corporate Advisor
River Group
Date: 05/05/2015 07:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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