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Voluntary announcement: Acquisition of two additional limited payout machine licenses in Gauteng and Mpumalanga
Grand Parade Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
VOLUNTARY ANNOUNCEMENT: ACQUISITION OF TWO ADDITIONAL LIMITED PAYOUT
MACHINE LICENSES IN GAUTENG AND MPUMALANGA
The board of Grand Parade Investments Limited (“GPI”) is pleased to announce that its
wholly-owned subsidiary, GPI Slots (Pty) Ltd (“GPI Slots”) has concluded an agreement to
acquire the shares and operations of Bohwa 1 Gaming (Pty) Ltd, trading as Hot Slots (“Hot
Slots”). Hot Slots is licensed as a route operator in Gauteng to operate 1,000 Limited Payout
Machines (“LPMs”). The agreement is subject to the fulfilment of certain outstanding
conditions precedent, including the approval of the transaction by the Gauteng Gambling
Board and GPI shareholder approval. A portion of the purchase price will be settled by the
issue of GPI shares (“the Acquisition Issue”).
Hot Slots has 343 active LPMs in the Gauteng province and a strong management team with
a proven track record in the LPM-industry. The Hot Slots brand has an established presence
in Gauteng and will join the GPI Slots stable alongside it other brands - Grandslots in the
Western Cape, Kingdomslots in KwaZulu-Natal and Grand Gaming Slots in Gauteng.
Shareholders of GPI are further advised that the Mpumalanga Gambling Board has approved
the transfer of the LPM Route Operator Licence held by Zimele Slots Mpumalanga (Pty) Ltd
to Grand Gaming Mpumalanga (Pty) Ltd, a wholly-owned subsidiary of GPI Slots. The licence
is one of two issued in the province where a maximum of 2 000 LPMs may be rolled out.
The acquisition of these two additional licences has taken GPI closer to achieving its stated
objective of acquiring LPM route operator licences for 7 500 LPM machines.
The GPI Slots Group (“the Slots Group”) will leverage off the collective knowledge and skills
of its management team and that of the Hot Slots management team to bring the Slots
Group into the position of LPM market leader in Gauteng and Mpumalanga, in keeping with
its position as market leaders in the Western Cape and KwaZulu-Natal. The GPI board
expects to commence operations in Mpumalanga during August 2013 and to take over the
operations of Hot Slots before the end of the 2013 calendar year.
The acquisition of the two additional LPM licenses does not constitute a reportable
transaction in terms of section 9 of the JSE Limited Listings Requirements and accordingly
this announcement is made on a voluntary basis. Notwithstanding the aforementioned, in
the interest of transparency and good corporate governance, GPI will seek the approval of
GPI shareholders for the Acquisition Issue at a general meeting in due course.
2 August 2013
Sponsor: PSG Capital
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