INVICTA HOLDINGS LIMITED - Announcement regarding the acquisition of Macneil Proprietary Limited

Announcement regarding the acquisition of Macneil Proprietary Limited

Invicta Holdings Limited 
(Incorporated in the Republic of South Africa) 
(Registration number 1966/002182/06) 
Ordinary Share code: IVT Ordinary Share ISIN: ZAE000029773
Preference Share code: IVTP Preference Share ISIN: ZAE000173399 ("Invicta") 

ANNOUNCEMENT REGARDING THE ACQUISITION OF MACNEIL PROPRIETARY LIMITED ("MacNeil")
 
Invicta is pleased to announce that it has acquired an effective 53.4% of the issued shares of MacNeil effective 1 October 2012 ("the transaction" or "the acquisition") for a net transaction value of R63 million. MacNeil is a leading wholesale supplier of sanitaryware, brassware, taps, plumbing fixtures, plastic piping and related products to the building materials sector of South Africa and neighbouring countries.  MacNeil operates through seven branches in South Africa. The acquisition will expand the existing building materials (tiles and sanitaryware) operations of the Invicta group. The combined annual revenue of Invicta building materials segment after this acquisition is expected to exceed R1 billion per annum. The acquisition is unconditional. Invicta intends to keep MacNeil's operations and its existing distribution network independent of the rest of the Invicta group.  Invicta's group buying power will be leveraged where appropriate.
 
The transaction falls below the threshold of the categorisation of 
transactions which require disclosure in terms of the JSE Limited's 
Listings Requirements. Nevertheless, due to the operational benefits and future positive impact of this acquisition, the directors of Invicta deemed it appropriate to inform shareholders of the transaction. This general forecast has not been reviewed or reported on by the Company's auditors.
 
Cape Town 
12 December 2012 
Sponsor 
Deloitte & Touche Sponsor Services (Pty) Ltd 
(Incorporated in the Republic of South Africa) 
(Registration number 1996/000034/07) 


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