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Voluntary announcement: Acquisition of an additional limited payout machine license in Kwazulu-Natal
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 AN ADDITIONAL LIMITED PAYOUT
MACHINE LICENSE IN KWAZULU-NATAL
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 Gold Circle KwaZulu-Natal Slots (Pty) Ltd, trading as
KZN Slots (“KZN Slots”). KZN Slots is licensed as a route operator in KwaZulu-Natal 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 KwaZulu-Natal Gaming and Betting Board. The purchase price will be settled by the issue
of GPI shares and cash.
KZN Slots has 610 active LPMs in KwaZulu-Natal and a strong management team with a
proven track record in the LPM-industry. The KZN Slots brand has an established presence in
KwaZulu-Natal and will join the GPI Slots stable alongside it other brands - Grandslots in the
Western Cape, Kingdomslots in KwaZulu-Natal, Grand Gaming Slots and Hot Slots in
Gauteng and Grand Gaming Slots in Mpumalanga.
The acquisition of this additional licence has taken GPI closer to achieving its stated
objective of acquiring LPM route operator licences for 7 500 LPM machines.
The GPI Slots Group will leverage off the collective knowledge and skills of its management
team and that of the KZN Slots management team to entrench its position as LPM market
leader in KwaZulu-Natal. The GPI board expects to take over the operations of KZN Slots
during July 2014, subject to the approval of the KwaZulu-Natal Gaming and Betting Board.
The acquisition of the additional LPM license 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.
6 March 2013
Sponsor: PSG Capital
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