WORKFORCE HOLDINGS LIMITED - Acquisition of Gcubed

Acquisition of Gcubed

Workforce Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2006/018145/06)
Share code: WKF ISIN: ZAE000087847
(“Workforce” or “the Company”)


ACQUISITION OF GCUBED


The board of directors of the Company is pleased to inform shareholders that Workforce has acquired the
business of Gcubed Boutique Recruitment (“Gcubed”), a permanent placement recruitment agency, as a going
concern from Gcubed Proprietary Limited with effect from 1 May 2016. Gcubed complements and enhances
Workforce’s existing offering in the permanent and executive search segments of the recruitment market.

Gcubed is a generalist recruitment company that focuses on finding the best possible candidates for its clients.
The company has a prestigious client portfolio in the finance, information technology, supply chain and retail
sectors and has achieved its growth by building solid relationships with its clients across all economic sectors,
rather than specialising in a single vertical.

Gcubed’s Tenzing Executive Search division is an executive search business that uses a retention
methodology to access much higher level candidates than would be reached through a traditional recruitment
approach.

Gcubed’s management and staff will be retained and the business will continue to trade under the Gcubed
name, as a division within Workforce. It is anticipated that by being part of the Workforce group, Gcubed will
benefit from various operational efficiencies and will also be able to enhance its value proposition and service
offering to its existing and future clients.

Due to its relative size, the acquisition falls below the threshold of a categorised transaction in terms of the
Listings Requirements of the JSE and its announcement is therefore voluntary.


Johannesburg
13 May 2016

Designated Adviser
Merchantec Capital

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