CHEMICAL SPECIALITIES LIMITED - Acquisition of a manufacturing business and exclusive supply agreement with Jacks Paint and Hardware for their pana

Acquisition of a manufacturing business and exclusive supply agreement with Jack’s Paint and Hardware for their pana

CHEMICAL SPECIALITIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/039947/06)
Share code: CSP
ISIN: ZAE000109427
(“ChemSpec” or “the Company”)


ACQUISITION OF A MANUFACTURING BUSINESS AND EXCLUSIVE SUPPLY
AGREEMENT WITH JACK’S PAINT AND HARDWARE FOR THEIR PANACHE, ARTISAN
AND COVERKOTE BRANDS (“THE ACQUISITION”).


ChemSpec is pleased to advise its shareholders that it has acquired
the manufacturing contract for Jack's Paints' exclusive decorative
paint brands- Panache, Coverkote and Artisan for a period in excess
of 10 years. In addition to this supply agreement, ChemSpec have
acquired the business of TPS [Turnkey Paint Solutions], a Gauteng
based manufacturing facility from Kansai Plascon.

Jack's Paints is a 60 year old chain of paint and hardware retail
stores and enjoy a strong market share via their 80 stores around
SA. The Jack’s brand is particularly strong in the Gauteng region,
which is a major market for decorative paint. This supply agreement
will provide ChemSpec with a volume increase in its decorative
business and manufacturing capacity.

The effective date of the acquisition shall be 1 April 2013 and
agreements are currently being finalised to give effect to the
transaction.

This is a voluntary announcement and not required in terms of the
JSE Limited Listings Requirements.

By order of the board.

19 March 2013

Designated Advisor
Grindrod Bank Limited

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