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BASIL READ HOLDINGS LIMITED - Fulfillment of conditions precedent and completion of transaction

Release Date: 01/02/2016 15:00
Code(s): BSR     PDF:  
Wrap Text
Fulfillment of conditions precedent and completion of transaction

Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1984/007758/06)
Share Code: BSR ISIN: ZAE 000029781
(“Basil Read” or “the Company”)



FULFILMENT OF CONDITIONS PRECEDENT AND COMPLETION OF TRANSACTION



Shareholders are referred to the transaction announcement released on SENS on 30 October
2015 pertaining to, inter alia, the sale agreement between Basil Read Limited (a wholly owned
subsidiary of Basil Read), and Much Asphalt (Pty) Ltd (“the Purchaser”) in terms of which the
Purchaser acquired all of the issued share capital of, claims against and equipment of
Spraypave (Pty) Ltd (“Spraypave”) from Basil Read for a total purchase consideration of
R78,643,000 (seventy eight million six hundred and forty three thousand rand) “the
Transaction”.

Shareholders are hereby advised that all the conditions precedent to the Transaction as set
out in the sale agreement have either been fulfilled or waived, as the case may be.
Accordingly, the transaction is now unconditional in accordance with the terms of the sale
agreement and was completed with an effective date of 1 February 2016.



Johannesburg
01 February 2016

A.T. Ndoni
Company Secretary

Sponsor
Grindrod Bank Limited

Corporate Advisor to Basil Read
St John Capital

Legal Advisor to Basil Read
Werksmans Attorneys

Date: 01/02/2016 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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