TORRE INDUSTRIES LIMITED - Completion of Kanu Disposal

Completion of Kanu Disposal

TORRE INDUSTRIES LIMITED 
Incorporated in the Republic of South Africa 
(Registration number 2012/144604/06) 
Share code: TOR 
ISIN: ZAE000188629 
(“Torre” or the “Company”) 
 

Completion of Kanu Disposal  

    Shareholders are referred to: 

    -   the announcement released on SENS on 22 November 2016 (“Terms Announcement”) in 
        which they were advised that Torre, through its wholly?owned subsidiary Torre International, 
        reached agreement with AAF, Phatisa and Kanthu to dispose of Torre’s 55% shareholding in 
        and shareholder loan claims against Kanu (“Kanu Disposal”); and 
    -   the announcement released on SENS on 27 March 2017 (“Repurchase Announcement”) 
        relating to a specific repurchase by Torre of Torre shares from Kanthu Nkama Capital (Pty) 
        Ltd, which repurchase is an indivisible component of the Transaction. 

     
    Defined terms used in this announcement bear the same meaning as those used in the Terms 
    Announcement and the Repurchase Announcement. 
     
    Further to the announcement released on SENS on 6 June 2017 in which Torre confirmed that the 
    requisite Torre shareholders approved the Kanu Disposal and Specific Repurchase, Torre is now 
    pleased to advise that all the other outstanding conditions precedent relating to the Kanu Disposal 
    and Specific Repurchase have been concluded and the Transaction has become unconditional. 

     

    Johannesburg 
    15 June 2017 
     
    Sponsor  
    RAND MERCHANT BANK (A division of First Rand Bank) 

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