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ALVIVA HOLDINGS LIMITED - Voluntary announcement regarding the acquisitions of Sintrex Integration Services (Proprietary) Limited (Sintrex)

Release Date: 07/09/2017 07:05
Code(s): AVV     PDF:  
Wrap Text
Voluntary announcement regarding the acquisitions of Sintrex Integration Services (Proprietary) Limited (“Sintrex”)

Alviva Holdings Limited
(Formerly Pinnacle Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1986/000334/06
Share Code: AVV
ISIN: ZAE000227484
(“Alviva” or “the Group”)

VOLUNTARY ANNOUNCEMENT REGARDING THE ACQUISITIONS OF SINTREX INTEGRATION SERVICES
(PROPRIETARY) LIMITED (“SINTREX”) AND GRIDCARS (PROPRIETARY) LIMITED (“GRIDCARS”)


On 6 September 2017, Alviva, through its subsidiary company DCT Holdings (Pty) Limited (“DCT”),
entered into an agreement to acquire 51% of the shareholding in Sintrex, and has an option to acquire
a further 24% within a two year period following the effective date of the transaction. Sintrex is an
infrastructure management company based in South Africa providing end-to-end IT solutions and
services. Sintrex develops IT products, services and solutions that, along with global partnerships,
provide clients with the visibility and performance insight into IT infrastructure management, network
management and monitoring solutions. The independence of Sintrex across service providers, as well
as the relationship between service providers and clients, is critical to the Sintrex business model and
plays a key role to ensure objective SLA and service delivery monitoring. Channel integrity remains a
key element within the IT supply chain and, to this end, Sintrex will operate as a stand-alone entity
within DCT.

The Sintrex acquisition will not only add a specialised products and services offering but also a higher
margin business to the Group. The transaction is inter alia conditional on clearance from the relevant
competition authorities.

In addition, Alviva has acquired, for a nominal amount, 75% of Gridcars through its subsidiary Solareff
(Pty) Limited. Gridcars is a Pretoria based developer of electric vehicle charge point software
management systems and supplier of charge points. Gridcars is playing a leading role in building the
electric vehicle industry through engagement with vehicle manufacturers and various other
stakeholders and to that end, Gridcars is a founding member of the Electric Vehicle Industry
Association. Alviva believes that growing a network of charge points in South Africa will be the enabler
of a carbon free transport system. The real-time interactive eMobility software system allows users
to find available charge points and to manage the rates and billing for energy consumed. The
acquisition of Gridcars forms a key element of our renewable energy business strategy. This
transaction is now unconditional.

Both of these acquisitions fall below the threshold of the categorisation of transactions which require
disclosure in terms of the JSE Limited's Listings Requirements. Nevertheless, the Board of Alviva
deemed it appropriate to inform shareholders of the acquisitions. The counter parties in both of these
transactions are not related parties.


Midrand

7 September 2017
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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