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Business Connexion Group Ltd To Dispose Q Link Business Unit

Thursday, 5 Sep 2013 03:10am EDT 

Business Connexion Group Ltd announced that the Group has entered into an agreement to dispose of its entire interest in the Q LINK business unit (Q LINK) to Summit Garnishee Solutions (Pty) Limited (SGS) as a going concern for a cash consideration of ZAR187.5 million (the Consideration) (the Disposal). SGS is a privately-owned company that is not a related party to the Group. The effective date of the Disposal is September 1, 2013. The Consideration will be settled in full on the date that the last suspensive condition is fulfilled.