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INSIMBI INDUSTRIAL HOLDINGS LIMITED - Update regarding the Acquisition of Group Wreck International Non-Ferrous Proprietary Limited

Release Date: 02/11/2018 15:20
Code(s): ISB     PDF:  
 
Wrap Text
Update regarding the Acquisition of Group Wreck International Non-Ferrous Proprietary Limited

Insimbi Industrial Holdings Limited
(Formerly Insimbi Refractory and Alloy Supplies Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2002/029821/06)
Share code: ISB ISIN: ZAE000116828
(“Insimbi” or “ISB” or “the Group”)

UPDATE REGARDING THE ACQUISITION OF GROUP WRECK INTERNATIONAL NON-FERROUS
PROPRIETARY LIMITED (“GROUP WRECK” or “the COMPANY”)

INTRODUCTION
Shareholders are referred to the detailed terms announcement (per Section 9.15 of the JSE Listing
Requirements) as issued on 27 August 2018, regarding the acquisition of Group Wreck. The relevant
transaction agreements have now been concluded, Competition Commission approval has been
received, and the parties are in the process of finalising the transaction funding arrangements.

EFFECTIVE DATE
All things being equal, based on the latest process timetable, it is expected that the Effective Date
for the transaction will be on or about 15 November 2018.

A finalisation announcement will be made when the transaction becomes unconditional.

2 November 2018
Johannesburg
Sponsor and Corporate Advisor: Bridge Capital Advisors Proprietary Limited

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