INSIMBI INDUSTRIAL HOLDINGS LIMITED - Finalisation announcement relating to the acquisition of Group Wreck International Non-Ferrous Proprietary Limited

Release Date: 16/11/2018 10:42
Code(s): ISB
 
Wrap Text
Finalisation announcement relating to 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”)

FINALISATION ANNOUNCEMENT RELATING TO THE ACQUISITION OF GROUP WRECK INTERNATIONAL NON-
FERROUS PROPRIETARY LIMITED (“GROUP WRECK”)

INTRODUCTION

Shareholders are hereby referred to the Category 2 announcement issued on 27 August 2018 on SENS (“CAT 2
announcement”), and the update announcement issued on 2 November 2018 on SENS wherein shareholders
were advised in terms of Section 9 of the JSE Listings Requirements, that Insimbi had agreed with the
shareholders of Group Wreck, namely Ella Rose Property & Investments Pty Ltd, Repo Metals Holdings Pty Ltd
and Solimene Holdings Proprietary Limited to acquire control of Group Wreck, subject to fulfilment of all
suspensive conditions relating to the proposed acquisition (“the Transaction”).

FULFILMENT OF SUSPENSIVE CONDITIONS

Shareholders are further advised that the suspensive conditions listed in the CAT 2 announcement have been
met and the Transaction is now unconditional, with effect from 16 November 2018.
The JSE Limited has approved the listing of 18 461 538 ordinary Insimbi shares at R1.30 per share with a
commencement date of 15 November 2018.

16 November 2018

Johannesburg
Sponsor and Corporate Advisor: Bridge Capital Advisors Proprietary Limited

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