KELLY GROUP LIMITED - Update On Acquisition By Kelly Group Of Anglo African Outstaffing Proprietary Limited

Update On Acquisition By Kelly Group Of Anglo African Outstaffing Proprietary Limited

KELLY GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/026249/06)
Share code: KEL
ISIN: ZAE000093373
(“Kelly Group”)

UPDATE ON ACQUISITION BY KELLY GROUP OF ANGLO AFRICAN
OUTSTAFFING PROPRIETARY LIMITED (“ANGLO AFRICAN”)

Shareholders are referred to the SENS announcement dated
3 March 2014 (“the Announcement”) wherein shareholders
were advised that Kelly Group had entered into an
acquisition agreement (“the Acquisition Agreement”) to
acquire 80% of the issued share capital in Anglo African
and be entitled, but not obliged, to acquire the
remaining 20% of the issued share capital in Anglo
African on 30 September 2014 (“the Anglo African
Acquisition”), subject to the conditions precedent set
out in paragraph 5 of the Announcement (“the Conditions
Precedent”).

Shareholders are hereby advised that all the Conditions
Precedent have been fulfilled and accordingly, the Anglo
African Acquisition will be implemented in accordance
with the terms of the Acquisition Agreement.

Sandton
24 March 2014

Sponsor
PSG Capital

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