GPL - Grand Parade Investments Limited - Voluntary announcement: Implementation

GPL - Grand Parade Investments Limited - Voluntary announcement: Implementation 
of acquisition                                                                  
Grand Parade Investments Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1997/003548/06)                                           
Share code:  GPL                                                                
ISIN:  ZAE000119814                                                             
("GPI" or "the company")                                                        
VOLUNTARY ANNOUNCEMENT: IMPLEMENTATION OF ACQUISITION BY GPI OF THE ROUTE       
OPERATOR BUSINESS OF PLAYMETER LEISURE SERVICES (PTY) LTD ("PLAYMETER")         
Shareholders are referred to the voluntary announcement released by GPI on SENS 
on 30 November 2010 wherein shareholders were advised that Thuo Gaming Gauteng  
(Pty) Ltd ("Thuo GG"), being a wholly owned group subsidiary of GPI, had        
concluded a binding sale of business agreement to acquire the assets and site   
operator contracts of Playmeter`s route operator business in Gauteng, including 
its Route Operator License, subject to the fulfillment of certain conditions    
precedent ("the acquisition").                                                  
Shareholders were further advised in the aforementioned announcement that full  
details of the purchase consideration and the method of payment would be        
disclosed once all regulatory approvals for the acquisition had been obtained.  
The board is pleased to advise shareholders that all conditions precedent to the
acquisition have been fulfilled. The acquisition was accordingly implemented on 
Friday, 29 April 2011 for a total purchase consideration of R25 000 000 (twenty 
five million rand), of which R23 170 000 (twenty three million one hundred and  
seventy thousand Rand) was settled through the issue of 8 128 436 ordinary      
shares in GPI and the remainder was settled in cash.                            
03 May 2011                                                                     
Cape Town                                                                       
Sponsor - PSG Capital (Pty) Ltd                                                 
Corporate Advisor - Leaf Capital (Pty) Ltd                                      
Legal advisors - Bernardt Vukic Potash & Getz Attorneys                         
Date: 03/05/2011 09:00:02 Supplied by www.sharenet.co.za                     
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