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RBW - Rainbow Chicken Limited - Acquisition of poultry processing operation

Release Date: 12/09/2011 09:04
Code(s): RBW
Wrap Text

RBW - Rainbow Chicken Limited - Acquisition of poultry processing operation RAINBOW CHICKEN LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1966/004972/06) ISIN: ZAE000019063 Share Code: RBW ("Rainbow") ACQUISITION OF POULTRY PROCESSING OPERATION Rainbow is pleased to announce that it has concluded an agreement to acquire the poultry processing operations of Bush Valley Chickens, located near Tzaneen in Limpopo province, for a purchase consideration of R92.5 million ("the transaction"). The facility currently processes approximately 150,000 chickens per week and fits Rainbow`s strategic growth plan, although the short-term impact on earnings is expected to be immaterial. The transaction is subject to approval by the Competition Commission and the fulfilment of certain suspensive conditions. Durban 12 September 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 12/09/2011 09:04:01 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.

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