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MURRAY & ROBERTS HOLDINGS LIMITED - Update - Market Activity in Murray & Roberts' ordinary shares

Release Date: 22/02/2017 09:30
Code(s): MUR     PDF:  
Wrap Text
Update - Market Activity in Murray & Roberts' ordinary shares

MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ADR Code: MURZY
ISIN: ZAE000073441
(“Murray & Roberts” or the “Company”)

UPDATE - MARKET ACTIVITY IN MURRAY & ROBERTS’ ORDINARY SHARES

Shareholders are referred to the announcement released on the Stock Exchange News
Service (“SENS”) on Friday, 17 February 2017, regarding the unusually high trading
volumes observed last week in Murray & Roberts’ ordinary shares. Shareholders are
further referred to the announcement released on SENS earlier today, regarding the
acquisition by ATM Holding GmbH, Munich (“ATM”), a company registered in accordance
with the laws of Germany, of a material beneficial interest in Murray & Roberts.

ATM is a wholly owned subsidiary of ATON GmbH (“ATON”). ATON is a private
investment holding company headquartered in Germany, with a diverse portfolio of
investments in the mining, engineering, aviation and health technology sectors.

ATON acquired a 4.49% shareholding between June and September 2015 and now holds
a beneficial interest of approximately 25.5% of the total issued ordinary share capital of
the Company. Other than the Section 122(3)(b) notification, the Company confirms that it
has not received any other correspondence or communication from ATON.

The underground mining contractor J.S. Redpath Holding, Inc (“Redpath”) is a wholly
owned subsidiary of ATON. Murray & Roberts and ATON held exploratory discussions
between September 2015 and April 2016, regarding a potential combination of Redpath
with Murray & Roberts’ Underground Mining business platform. Whilst there was merit in
the potential combination, the parties could not reach agreement on the proposed
transaction structure and relative value. Accordingly, discussions ceased in May 2016.

The Company will engage with ATON regarding its investment in Murray & Roberts.

Bedfordview
22 February 2017

Sponsor: Deutsche Securities (SA) Proprietary Limited

Date: 22/02/2017 09:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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