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OCEANA GROUP LIMITED - Voluntary announcement relating to the disposal of Lamberts Bay Foods Limited

Release Date: 26/05/2016 07:06
Code(s): OCE     PDF:  
Wrap Text
Voluntary announcement relating to the disposal of Lamberts Bay Foods Limited

Oceana Group Limited
Incorporated in the Republic of South Africa
(Registration Number 1939/001730/06)
JSE Share Code: OCE
NSX Share Code: OCG
ISIN Number: ZAE000025284
("Oceana" or "the Group")

Voluntary announcement relating to the disposal of Lamberts Bay Foods Limited

1. Introduction

    Shareholders are advised that Oceana has concluded an agreement with Famous Brands Limited
    (“Famous Brands”) in relation to the disposal by Oceana of its entire shareholding in its wholly-
    owned subsidiary, Lamberts Bay Foods Limited (“Lamberts Bay Foods”), to Famous Brands (“the
    Transaction”).

2. Categorisation and suspensive conditions

    The purchase consideration falls below the threshold of a categorised transaction in terms of the
    Listings Requirements of the JSE Limited. The board of directors of Oceana however deemed it
    appropriate to notify shareholders of the Transaction.

    The Transaction is subject to Competition Commission approval, whereafter all suspensive
    conditions will have been fulfilled.

    Cape Town
    26 May 2016

    JSE Sponsor
    The Standard Bank of South Africa Limited

    NSX Sponsor
    Old Mutual Investment Services (Namibia) Proprietary Limited

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