LONG4LIFE LIMITED - Update In Relation To Acquisitions

Update In Relation To Acquisitions

LONG4LIFE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2016/216015/06)
Share code: L4L
ISIN: ZAE000243119
(“Long4Life” or “the Company”)


UPDATE IN RELATION TO ACQUISITIONS


Shareholders are herewith provided with an update on the acquisition by Long4Life of Sorbet Holdings
Proprietary Limited (“Sorbet”) and Inhle Beverages Proprietary Limited (“Inhle”).


1. Acquisition of Sorbet

    Further to the announcement released on the Stock Exchange News Service (“SENS”) of the JSE
    Limited on 14 July 2017, shareholders are advised that all the conditions precedent relevant to the
    transaction have now been fulfilled. There has been no adjustment to the purchase consideration
    of R116 million.


2. Acquisition of Inhle

    Shareholders are referred to the announcement released on SENS on 23 August 2017 which set
    out the details of the Inhle acquisition and are advised that the purchase consideration referred to
    in that announcement has been reduced after the due diligence to R268.86 million comprising:
         • R210 million to be settled in cash; and
         • 10.8 million to be settled through the issue of Long4Life shares.

    The revised purchase price assumes that Inhle will produce earnings before interest, depreciation
    and taxation of R55 million for the year ending 28 February 2018.

    Shareholders are advised that all the conditions precedent have now been fulfilled or waived.


Johannesburg
25 October 2017

Financial advisor and Sponsor
The Standard Bank of South Africa Limited

Legal Adviser
ENSAfrica

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