IMPERIAL HOLDINGS LIMITED - Acquisition by Imperial of Palletways Group Limited Concluded

Acquisition by Imperial of Palletways Group Limited Concluded

Imperial Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1946/021048/06
Ordinary share code: IPL ISIN: ZAE000067211
Preference share code: IPL ISIN: ZAE000088076
(“Imperial” or “Company”)

ACQUISITION BY IMPERIAL OF PALLETWAYS GROUP LIMITED CONCLUDED

Shareholders of Imperial are referred to the Company announcement
released on Stock Exchange News Service of the JSE Limited on 1 June
2016   wherein  shareholders  were   advised  that   Imperial  Mobility
International B.V., a wholly-owned subsidiary of Imperial, entered into
a conditional agreement, with, inter alia, Phoenix Equity Partners
Limited to acquire 100% of the issued share capital of Palletways Group
Limited and its subsidiaries, for a consideration of £162.9 million
(ZAR3.8 billion), subject to approval by the European Competition
Authorities.

Imperial is pleased to advise its shareholders that the acquisition was
approved   by  the   European  Competition   Authorities  and  is   now
unconditional.

Palletways’ management have co-invested alongside Imperial to own
5% of the shares. Imperial has paid £155.1 million (ZAR3.0 billion)
for its 95% share, which was settled through existing unutilised
foreign credit facilities.

The effective date for the transaction was 5 July 2016.

Company Secretary
RA Venter

Bedfordview
6 July 2016

JSE Sponsor:
Merrill Lynch South Africa (Pty) Limited

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