TORRE INDUSTRIES LIMITED - Voluntary announcement re acquisition of the remaining shares in Torre Equipment Africa Ltd

Voluntary announcement re acquisition of the remaining shares in Torre Equipment Africa Ltd

TORRE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2012/144604/06)
Share code: TOR
ISIN: ZAE000188629
(“Torre” or “the Company” or “the Group”)

VOLUNTARY ANNOUNCEMENT – ACQUISITION OF THE REMAINING SHARES
IN TORRE’S SUBSIDIARY TORRE EQUIPMENT AFRICA LIMITED

Torre is pleased to advise shareholders that it has concluded
an agreement to acquire the remaining 20.43% of Torre
Equipment Africa Limited (“TEA”). After the transaction TEA
will become a wholly-owned subsidiary of Torre.

TEA, which operates under Torre’s Capital Equipment division,
sells, rents and services earthmoving machinery and equipment
across Southern, Central and West Africa.

The   acquisition   falls   below   the threshold   of   the
categorization of transactions which require disclosure in
terms of the JSE Listings Requirements, however given its
strategic nature the Company deemed it appropriate to inform
shareholders. The acquisition will result in the issue of
12 646 960 new shares by the Company.


Johannesburg
4 January 2016

Sponsor: Stellar Advisers (Pty) Ltd

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