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LABAT AFRICA LIMITED - Conclusion of RTG transaction and update on specific issue of shares

Release Date: 08/01/2016 12:52
Code(s): LAB     PDF:  
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Conclusion of RTG transaction and update on specific issue of shares

LABAT AFRICA LIMITED
Incorporated in the Republic of South Africa
(Registration number 1986/001616/06)
JSE code: LAB ISIN: ZAE000018354
(“Labat” or “the company”)


CONCLUSION OF ACQUSITION OF REINHARDT TRANSPORT GROUP PROPRIETARY LIMITED AND FURTHER
ANNOUNCEMENT RELATING TO THE SPECIFIC OFFER


Labat shareholders are referred to the circular dated 18 November 2015 which contained salient dates
of the Private Placing and which offer opened on Monday, 21 December 2015 and is due to close at
12h00 on Friday, 8 January 2016.

The directors are pleased to advise that applications far exceeding the required R375m have been
received from certain strategic value-adding and substantial BEE investors, which applications have
been accepted by the Company but may need to be pro-rated. The Company is pleased to advise
that it has secured agreement from the RTG Vendor to allow for bridging funding to the BEE groupings for
the R330m required to conclude the RTG Acquisition, whilst the funding of the various BEE companies is
being finalised.

This allows for the acquisition to be concluded unconditionally and the shares in relation to the RTG
acquisition will be listed on or about 15 January 2016. The balance of the shares for the additional R45m
will only be listed once the cash is received.

The results of the offer will be announced in due course as well as the date of the transfer of the listing to
the Main Board.

The Labat board of directors extends its welcome to the RTG team.


By order of the board
8 January 2016
Johannesburg

Sponsor
Arbor Capital Sponsors Proprietary Limited

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