TORRE INDUSTRIES LIMITED - COMPLETION OF GROUP REFINANCING EXERCISE

COMPLETION OF GROUP REFINANCING EXERCISE

TORRE INDUSTRIES LIMITED
(Previously Torre Industrial Holdings 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”)

COMPLETION OF GROUP REFINANCING EXERCISE

INTRODUCTION

Torre is pleased to announce that it has successfully
concluded agreements with Absa Bank Limited, acting through
its Corporate and Investment Banking Division (“Absa”), in
which Absa has provided the Group with ZAR357,000,000 of new
bank facilities (“the Facilities”).

The Facilities will be used to:

-   refinance all existing indebtedness of the Group;
-   part finance the  recent acquisitions including the
    acquisition of 100% of Control Instruments Group Ltd; and
-   provide committed acquisition facilities to fund future
    growth initiatives and working capital facilities for
    general corporate purposes.

The Facilities significantly enhance Torre’s balance sheet,
providing headroom, flexibility and funding capacity to
execute its medium term growth strategy.

COMPLETION

The various agreements and addenda to the Facilities have
become unconditional and fully implemented and drawdown is
expected on or about 5 June 2014.

Johannesburg
4 June 2014

Corporate Finance Adviser to Torre
AfrAsia Corporate Finance (Pty) Ltd

Legal Adviser to Torre
Norton Rose Fulbright

Designated Adviser
PSG Capital (Pty) Ltd

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