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ASTRAPAK LIMITED - Disposal of the business of East Rand Plastics

Release Date: 02/07/2015 12:26
Code(s): APK APKP     PDF:  
Wrap Text
Disposal of the business of East Rand Plastics

Astrapak Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1995/009169/06)
Share Code: APK
ISIN: ZAE000096962
Share Code: APKP
ISIN: ZAE000087201
("Astrapak")

DISPOSAL OF THE BUSINESS OF EAST RAND PLASTICS

We refer the announcement released on SENS on 31 March 2015 in which shareholders were
advised that Astrapak had entered into an agreement on 31 March 2015 with Transpaco Plastics
(Proprietary) Limited (“the Purchaser”), in terms of which, if successfully implemented, Astrapak would
dispose of its East Rand Plastics business to the Purchaser (“the Transaction”).

Shareholders are herewith advised that all suspensive conditions, including the requisite approvals of
all regulatory authorities which are required to implement the Transaction as contemplated, has now
been fulfilled and the closing date of the Transaction will be Friday the 31st of July 2015.

The purchase price payable is based on an estimated value of R77.5m for the business as at the
closing date of the Transaction and R14.0m for the property occupied by the business which will be
transferred subsequent to the closing date. The purchase consideration will be utilised by Astrapak to
reduce its current level of gearing.

Johannesburg
2 July 2015

Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)

Date: 02/07/2015 12:26:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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