KAP INDUSTRIAL HOLDINGS LIMITED - Voluntary Announcement: Disposal Of Footwear Assets

Voluntary Announcement: Disposal Of Footwear Assets

KAP INDUSTRIAL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration Number 1978/000181/06)
Share code: KAP
ISIN: ZAE000059564
(“KAP” or “the Group”)

VOLUNTARY ANNOUNCEMENT: DISPOSAL OF FOOTWEAR ASSETS

For information purposes only.

KAP is pleased to announce that, in line with its
strategy to focus on strategic industrial assets within
emerging markets, it has successfully concluded the sale
of its footwear interests, being Jordan Shoes, Wayne
Plastics,   United  Fram   Footwear  and  Mossop-Western
Leathers (“the Footwear Division”).

The Footwear Division has been sold to Bolton Footwear
(Pty) Ltd (“Bolton”), a South African based diversified
footwear manufacturer.    Bolton, together with Beier
Safety Footwear (Pty) Ltd and other parties, will
establish two significant footwear groups focussing on
safety footwear and fashion footwear. The Footwear
Division will be integrated into these new footwear
groups, which bodes well for the future of the Footwear
Division.

The transaction is still subject to approval by the South
African Competition Authorities. KAP will continue to
manage the business until such time as the relevant
approvals have been obtained.

KAP thanks the management team for their efforts and
assistance during the sales process and wishes them well
for the future.

The   transaction  does   not  constitute   a   reportable
transaction as contemplated in terms of section 9 of the
JSE    Listings   Requirements    and   accordingly    the
announcement is made on a voluntary basis.

9 June 2014
Stellenbosch

Sponsor:
PSG Capital

Date: 09/06/2014 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.