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Update on RTG Acquisition
LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat” or “the Company”)
ISIN Code: ZAE 000018354 Share code: LAB
ANNOUNCEMENT REGARDING THE ACQUISITION OF REINHARDT TRANSPORT GROUP
PROPRIETARY LIMITED (“RTG”), INITIAL TRADING STATEMENT, WITHDRAWAL OF CAUTIONARY
ANNOUNCEMENT AND RENEWAL OF CAUTIONARY ANNOUNCEMENT.
RTG Acquisition
Shareholders of Labat are referred to the SENS announcements dated 17 March 2016 and
23 March 2016 and are advised that Labat has decided not to pursue the Proposed
Acquisition any further. The board of Labat believes this decision to be in the best interest of
Labat shareholders.
Initial trading statement by Labat for the year ending 31 August 2016
In terms of the Listings Requirements of the JSE Limited (the “JSE”), listed companies are
required to publish a trading statement as soon as they are satisfied that a reasonable
degree of certainty exists that the financial results for the next period to be reported on will
vary by more than 20% from a profit forecast previously provided to the market in relation to
such period.
Shareholders are referred to the profit forecast for the year ending 31 August 2016 contained
in the circular dated 18 November 2015 and are advised that the Company expects that the
earnings per share and headline earnings per share will be lower than the profit forecast of
21.25 cents and 18.82 cents respectively. This primarily relates to RTG profit forecasts which
will not be met. Shareholders are reminded that Labat is in other acquisition negotiations as
announced on SENS on 11 March 2016 and remains under cautionary in this regard. A further
trading statement will be published once a range has been determined.
The board has further determined that it is premature to issue a trading statement against the
prior comparative period.
This initial trading statement has not been reviewed or reported on by the Company`s
external auditors.
Withdrawal of cautionary announcement
Shareholders are advised that the cautionary announcement issued on 17 March 2016
relating to the RTG acquisition is hereby withdrawn.
Renewal of cautionary announcement
Further to the cautionary announcement released on 11 March 2016, shareholders are
advised that negotiations are still in progress relating to possible acquisitions of companies in
the transport and logistics sector, which if successfully concluded, may have a material effect
on the price of the Company’s securities. Accordingly, shareholders are advised to continue
exercising caution when dealing in the Company’s securities until a full announcement is
made.
Johannesburg
13 April 2016
Sponsor
Arbor Capital Sponsors Proprietary Limited
Date: 13/04/2016 02:38:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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