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Announcement of the purchase of a 33.5% shareholding in Hudani Manji Holdings Limited ("HMH") Uganda
RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“RCL Foods")
ANNOUNCEMENT OF THE PURCHASE OF A 33,5% SHAREHOLDING IN HUDANI
MANJI HOLDINGS LIMITED (“HMH”) (UGANDA)
RCL Foods announces that it has entered into a subscription
agreement with, inter alia, HMH, a private company incorporated
under the laws of Uganda, whereby RCL Foods shall subscribe for
33,5 percent of the total issued share capital of HMH for US$4.66m
in cash (“the Acquisition”).
HMH is a poultry producer operating a feed mill, broiler farms and
processing plant. It is currently owned by the Hudani and Manji
families, who have extensive interests in East Africa in food
processing, distribution, construction, telecoms, real estate and
hospitality.
This is an exciting opportunity to enter the East African region
with an established reputable partner, and the new venture will
create one of the largest processors and marketers of chicken in
both Uganda and East Africa.
The Acquisition is not subject to JSE Limited Listings
Requirements due to its size and is only subject to a number of
non-material conditions precedent.
Durban
31 July 2015
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 31/07/2015 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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