IVT - Invicta - Announcement

IVT - Invicta - Announcement                                                    
Invicta Holdings Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number 1966/002182/06)                                            
Share code: IVT & ISIN code: ZAE000029773                                       
("Invicta")                                                                     
ANNOUNCEMENT                                                                    
Shareholders are referred to the SENS announcements dated 17 October 2007 and 18
April 2008 regarding the acquisition of Goldquest International Hydraulics (Pty)
Limited ("Goldquest") by Bearing Man, a subsidiary of Invicta.                  
Invicta is pleased to announce that Bearing Man has now successfully concluded  
the acquisition of 100% of Goldquest. Goldquest is a specialist hydraulic       
components and services business with distributors in the major industrial areas
of South Africa.  It has sole distribution rights for leading brands like       
Eaton/Vickers, Marzocchi, Larzep, Pister, Schroeder, EP Italiana, MEGI, Pilan   
and others.  This strategic investment will enable Bearing Man to broaden its   
product offering in industrial consumables and enable Bearing Man to penetrate  
deeper into the industrial consumable markets. The transaction is unconditional 
and the purchase price is variable between R58 million and R65 million,         
dependent on the profits of Goldquest in its current financial year and other   
performance criteria. The purchase price will be settled in cash. The           
transaction falls below the threshold of the categorization of transactions     
which require disclosure in terms of the JSE Limited`s Listings Requirements.   
Nevertheless, due to the strategic nature and long term importance of this      
acquisition, the directors of Invicta deemed it appropriate to inform           
shareholders of the transaction.                                                
Cape Town                                                                       
14 August 2008                                                                  
Sponsor                                                                         
Deloitte & Touche Sponsor Services (Pty) Ltd                                    
(Incorporated in the Republic of South Africa)                                  
(Registration number 1996/000034/07)                                            
Date: 14/08/2008 08:44:16 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.