ANCHOR GROUP LIMITED - Sale of controlling interest in Anchor Stockbrokers

Release Date: 10/07/2018 09:18
Code(s): ACG
 
Wrap Text
Sale of controlling interest in Anchor Stockbrokers

ANCHOR GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2009/005413/06)
Share code: ACG ISIN: ZAE000193389
("Anchor")

SALE OF CONTROLLING INTEREST IN ANCHOR STOCKBROKERS

Anchor Group's stockbroking business partners with SA property mogul to create majority black-owned
boutique research and brokerage house

•   Consortium to acquire 51% shareholding in Anchor Stockbrokers
•   Anchor Stockbrokers will retain autonomy and flexibility
•   Transaction will enhance research and insights solutions to clients across the spectrum but with a strong
    property focus
•   Anchor Stockbrokers and investment consortium to leverage extensive network, track record and
    independent thinking within real estate and related sectors
•   Anchor Stockbrokers to become a 51% black-owned Level II B-BBEE contributor

JSE AltX-listed financial services holding company Anchor today announced the disposal of a controlling interest in
its wholly owned subsidiary, Anchor Stockbrokers Proprietary Limited to a consortium led by property entrepreneur
Dr Sisa Ngebulana.
Upon completion of conditions precedent typically associated with transactions of this nature, Anchor Stockbrokers
will become a Level II B-BBEE contributor.

Anchor CEO and founder Peter Armitage commented:
"We are excited about the new partnership and this forms part of our ongoing initiatives to transform our
business."

Craig Smith, Head of Research and Property at Anchor Stockbrokers said:

"Anchor Stockbrokers may be a relative newcomer, but as a full service brokerage house with a niche focus on real
estate research, we believe our insights and unique offering continues to gain traction with investors."

Brett Adams, Chief Executive of Anchor Stockbrokers commented:
"This transaction forms an important part of our strategy to provide a wider range of institutional investors with
access to an independent majority black-owned equities research and brokerage firm differentiated by its unique
approach and focus."

In terms of the agreement, Dr Sisa Ngebulana will become the non-executive chairman of Anchor Stockbrokers. Dr
Ngebulana has some 25 years of experience in the property sector and is the founder of Rebosis Limited, the first
black-owned real estate investment trust to list on the main board of the JSE. He is also the founder of Billion Group,
an award-winning property development and investment company driven by entrepreneurial expertise.

Dr Ngebulana commented:
"Given regulatory changes, corporate governance demands and intensifying competition, it is increasingly
important that research houses remain autonomous and flexible to provide clients with objective insights and
analysis.

"The transaction will enable a boutique house such as Anchor Stockbrokers to leverage its track record and
independent thinking, especially within real estate and related sectors."

The transaction was effective 1 June 2018 and remains subject to customary regulatory approvals.

This transaction is not categorisable per the JSE Listings Requirements.

Media contacts:
Morne Reinders
Articulate Capital Partners
+27 (0) 82 480 4541
morne@articulatepartners.com
Brett Adams
Anchor Stockbrokers
+27 (0)11 591 0566
badams@anchorsb.co.za

About Anchor Stockbrokers
Anchor Stockbrokers is a South African stockbroker registered as a member of the Johannesburg Stock Exchange. We
are a niche focused stockbroker providing equity brokerage services and research on the listed property sector in South
Africa to Institutional, Corporate and Private Clients.

Our aim is to become a market leading niche focused South African stockbroker which provides our clients with
unparalleled market intelligence and insights into the property sector.

About Anchor Group
The Anchor Group is a financial services holding company with investments in a number of financial services
companies. Anchor began managing assets in 2012 and has grown rapidly to reach group -wide assets under
management and advice at 31 December 2017 of R52.3 billion, up by 14 % from R45.9 billion on 31 December 2016.
Anchor has three primary divisions – Private Clients, Asset Management and Stockbroking. The long-term strategy of
Anchor is to become a major player in South African asset management, with an increasing focus on offshore
investment. This will be achieved by both organic and acquisitive growth.

10 July 2018

Designated advisor
Java Capital


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