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CLOVER INDUSTRIES LIMITED - Update On Clover S.A. Acquisition Of The Real Juice Co. From Avi Limited

Release Date: 05/09/2012 10:01
Code(s): CLR CLRP     PDF:  
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Update On Clover S.A. Acquisition Of The Real Juice Co. From Avi Limited

CLOVER INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
Ordinary Share code: CLR
ISIN: ZAE000152377
Preference Share Code: CLRP
ISIN: ZAE000152385
(“the Company" or “Clover”)

UPDATE ON CLOVER S.A. ACQUISITION OF THE REAL JUICE CO. FROM AVI
LIMITED

Shareholders are referred to the SENS announcement dated 31 May
2012, informing the market that Clover S.A. Proprietary Limited (a
wholly owned subsidiary of the Company) has entered into an
agreement in terms of which Clover will acquire 100% of the equity
in and shareholders’ loans against The Real Juice Co Holdings
(Pty) Ltd (“RJC”) from AVI Limited for a purchase consideration of
R60 million (“the transaction”).

Shareholders are informed that all outstanding conditions
precedent have been fulfilled and that accordingly the effective
date for the transaction will be 1 October 2012.
Johann Vorster, Clover’s Chief Executive, commented: “This
acquisition is in line with our strategy to take advantage of our
low gearing and strong cash generation to expand Clover’s
portfolio of value added and branded beverages products.
“RJC enjoys strong brand recognition in the Cape region and we
believe that efficiencies can be unlocked through Clover’s
extensive sales and distribution network."

Johannesburg
5 September 2012

ENQUIRIES

Clover Industries Limited                  +27   (0)   11   471   1702
Johann Vorster – Chief Executive           +27   (0)   82   462   0083
Manie Roode – Deputy Chief Executive       +27   (0)   82   466   7848
College Hill                               +27   (0)   11   447   3030
Morné Reinders                             +27   (0)   82   815   1844
Frédéric Cornet                            +27   (0)   83   307   8286

Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Date: 05/09/2012 10:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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