SANTOVA LIMITED - Strategic acquisition of Masterfreight Internationale Spedition GMBH, Germany

Strategic acquisition of Masterfreight Internationale Spedition GMBH, Germany

SANTOVA LIMITED
(Registration Number: 1998/018118/06)
("Santova")
Share Code:  SNV
ISIN: ZAE000159711

STRATEGIC ACQUISITION OF MASTERFREIGHT INTERNATIONALE SPEDITION GMBH, 
GERMANY  

INTRODUCTION
The Board of Santova is pleased to announce that Santova has acquired 100% of the share capital in 
Masterfreight Internationale Spedition GmbH ("Masterfreight"), a company based in Frankfurt Germany, from 
the founding shareholders of Masterfreight who are independent third parties. 

RATIONALE
Masterfreight is a freight forwarding and clearing agent established in 1989 that specialises in air freight imports 
and exports. The acquisition of Masterfreight is part of Santova's stated strategy to expand its international 
footprint to include all major international shipping routes and provides Santova with a solid platform from 
which to grow and leverage its presence in Germany.

CONSIDERATION AND CATEGORISATION
The total maximum purchase consideration for Masterfreight may be up to R4.7 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 December 2014. The acquisition is not subject to any 
conditions precedent and the purchase price will be settled fully in cash from existing cash 
resources. 

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 2015 financial year end.

13 November 2014
Durban
Sponsor and Corporate Advisor
River Group



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