DISTRIBUTION AND WAREHOUSING NETWORK LIMITED - Update announcement of the proposed sale by Dawn of its 49% interest in Grohe Dawn Watertech Holdings Proprietary

Update announcement of the proposed sale by Dawn of its 49% interest in Grohe Dawn Watertech Holdings Proprietary

Distribution and Warehousing Network Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/008265/06)
Share code: DAW & ISIN code: ZAE000018834
(“DAWN” or “the Company”)


UPDATE ANNOUNCEMENT OF THE PROPOSED SALE BY DAWN OF ITS 49% INTEREST IN
GROHE DAWN WATERTECH HOLDINGS PROPRIETARY LIMITED (“GDW”)



Shareholders are referred to the terms announcements dated 14 September 2017 where they were
advised that DAWN concluded of a share purchase agreement (“Share Purchase Agreement”) and
ancillary transaction agreements on Thursday, 14 September 2017, with LIXIL Corporation (“LIXIL”), the
51% controlling shareholder of GDW. Under the terms of the Share Purchase Agreement, LIXIL will
acquire the remaining 49% of the issued ordinary shares in GDW held by DAWN and GDW will repay
DAWN’s shareholder loan claim against GDW (collectively “the Transaction”), pursuant to which DAWN
will receive an aggregate consideration of R324.5 million.

Shareholders are advised that the JSE Limited has granted the Company an extension of the 60 day rule
pursuant to paragraph 9.20(b) of the JSE Listings Requirements to dispatch the circular regarding the
Transaction to shareholders. The extension has been granted until 30 November 2017. The delay is due
to the finalisation of the GDW 2017 Annual Financial Statements to be included in the circular.


Germiston
13 November 2017

Financial advisor and transaction sponsor
Investec Bank Limited

Legal advisors to DAWN
Edward Nathan Sonnenbergs Incorporated
Werksmans Attorneys

Legal Advisors to LIXIL
Bowman Gilfillan Incorporated

Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd

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