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Voluntary announcement regarding the acquisition of Hyflo
Invicta Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/002182/06)
Ordinary Share code: IVT Ordinary Share ISIN ZAE000029773
Preference Share code: IVTP Preference Share ISIN: ZAE000173399
("Invicta" or “the Company”)
VOLUNTARY ANNOUNCEMENT REGARDING THE ACQUISITION OF HYFLO SOUTHERN
AFRICA (PROPRIETARY) LIMITED (“HYFLO SA”) AND HYFLO NAMIBIA
(PROPRIETARY) LIMITED (“HYFLO NAMIBIA”)
Invicta is pleased to announce that its major subsidiary, Bearing Man
Group (Proprietary) Limited ("BMG"), has acquired 100% of Hyflo SA
(effective 1 November 2015) and Hyflo Namibia (effective 1 December
2015) (collectively "Hyflo") ("the Acquisition") as well as certain
properties occupied by Hyflo. The Acquisition has been unconditionally
approved by the South African and Namibian Competition Authorities,
as required.
Hyflo was established in 1954 and is a well respected player in the
Fluid Power industry engaged in the design, manufacturing, marketing
and servicing of hydraulic and pneumatic equipment. Hyflo has a
national presence with branches in Cape Town, Bellville, Vredenburg,
Johannesburg, Boksburg, Durban, Port Elizabeth, Bloemfontein as well
as in Windhoek, Namibia.
This strategically important and mutually beneficial transaction
further entrenches BMG's differentiated value proposition by
augmenting its extensive engineering product offering with value
adding technical engineering expertise and provides an established
presence in the oil and gas, defence, fishing and marine industries,
amongst many others.
Although Hyflo will continue to operate as a stand-alone business
within the BMG group, the complementary, rather than overlapping, fit
of the Hyflo and BMG Fluid Power businesses establishes the BMG group
as a leading player in this market segment across southern Africa.
The Acquisition falls below the threshold of the categorisation of
transactions which require disclosure in terms of the JSE Limited's
Listings Requirements. Nevertheless, the Board of Invicta deemed it
appropriate to inform shareholders of the Acquisition.
Cape Town
5 November 2015
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
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