ARGENT INDUSTRIAL LIMITED - Acquisition of OSA Door Parts Limited

Acquisition of OSA Door Parts Limited

Argent Industrial Limited
(Registration number 1993/002054/06)
(Incorporated in the Republic of South Africa)
Share Code: ART
ISIN: ZAE000019188
(“Argent” or “the Company”)

ACQUISITION OF OSA DOOR PARTS LIMITED (“OSA” or “The Business”)

1. Introduction and rationale

Argent is pleased to announce that it has entered into an
agreement to purchase the entire issued share capital of OSA
from Ensor Holdings PLC for a purchase consideration of
GBP2 500 000 payable in cash (“the Transaction”).

The rationale for the Transaction is to expand Argent’s
manufacturing brand division.

2. The description of the Business

OSA is a manufacturer and trade supplier of industrial
sectional insulated warehouse doors. The Business is situated
in and predominantly operates in the United Kingdom.

3. The consideration, conditions precedent and effective
date.

3.1  The cash consideration of GBP2 500 000 to be settled in cash
     within 24 hours after the completion date of the agreement
     being 12 July 2016. The Transaction will be implemented on
     12 July 2016.

3.2  There are no outstanding conditions precedent.

4.    Financial Information

4.1  The value of net assets attributable to the Business amounts
     to GBP850 000.

4.2  The profits attributable to the Business amounts to
     GBP400 000 after taxation.

4.3  The financial information contained in this announcement has
     not been reviewed or reported on by Argent’s auditors.

5.    Categorisation

5.1   As the Transaction amounts to more than 5% but less than
      30% of the market capitalisation, the Transaction is
      classified as a category 2 transaction in terms of
      paragraph 9.5 of the JSE Listings Requirements.

5.2   This announcement is made for information purposes only and
      no action is required by Argent shareholders with regards
      to the Transaction.

6. The Memorandum of Incorporation of OSA does not conflict
with Argent’s obligations in terms of compliance with the JSE
Listing Requirements.


Umhlanga
11 July 2016
Sponsor: PSG Capital Proprietary Limited

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