SOUTH OCEAN HOLDINGS LIMITED - Detailed Cautionary Announcement

Release Date: 03/07/2018 17:00
Code(s): SOH
 
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Detailed Cautionary Announcement

SOUTH OCEAN HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2007/002381/06)
Share Code: SOH
ISIN: ZAE0000092748
(“SOH” or “the Company”)




DETAILED CAUTIONARY ANNOUNCEMENT


Shareholders are advised that SOH is in advanced discussions with ARB Holdings
Limited (“ARB”) and its subsidiary, Eurolux Proprietary Limited, to dispose of 100% of
the total issued share capital of Radiant Group Proprietary Limited (“Radiant”), a
subsidiary of SOH, and the properties that Radiant operate out of. This will be a
category 1 transaction for the Company.

Radiant imports and distributes light fittings, lamps and electrical accessories to the
housing, infrastructure, building and construction sectors. Radiant distributes its
products through lighting warehouses, retail outlets, lighting specialists and electrical
wholesalers.

The proposed transaction is subject to several conditions precedent, including the
conclusion of definitive sale agreements, and a comprehensive due diligence,
together with the approval of the shareholders of SOH, the JSE and the Competition
Commission.

Accordingly, shareholders are advised to exercise caution when dealing in the
Company’s securities until a further announcement is made on SENS.


By order of the Board
Johannesburg
3 July 2018


Sponsor
Arbor Capital Sponsors Proprietary Limited

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