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Voluntary announcement - Investment in Masimong Chemicals (Pty) Ltd
TORRE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2012/144604/06)
Share code: TOR
ISIN: ZAE000188629
(“Torre” or “the Company” or “the Group”)
VOLUNTARY ANNOUNCEMENT - INVESTMENT IN MASIMONG CHEMICALS
(PTY) LTD
Torre is pleased to advise that Torre Capital (Pty) Ltd has
acquired certain financial instruments in Masimong Chemicals
(Pty) Ltd (“Chemicals”) for R45 million the returns on which
are linked to the performance of 15m shares in Rolfes Holdings
Limited (“Rolfes”) being about 10% of the Rolfes shares in
issue. Chemicals total holding in Rolfes is 32.4% of the
shares in issue.
Chemicals is wholly owned by Masimong Group Holdings (Pty)
Ltd, a black controlled investment group with interests across
a range of sectors including mining, beneficiation,
industrial, agriculture, media and financial services, amongst
others, and which is owned by Messrs Michael Teke and Douglas
Gain. Michael Teke is also a director of Rolfes.
Rolfes is an acquisitive JSE-listed manufacturer and
distributor of a diverse range of market leading high quality
chemical products through its Agricultural, Water, Industrial
divisions as well as through its recently formed Food
division.
The investment falls below the threshold of the categorization
of transactions which require disclosure in terms of the JSE
Listings Requirements, however the Company deemed it
appropriate to inform shareholders.
Johannesburg
13 November 2015
Sponsor and Corporate Finance Adviser:
Stellar Advisers (Pty) Ltd
Date: 13/11/2015 02:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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