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Afrimat Ltd Announces Indicative Proposal To Purchase Of Shares Of Infrasors Holdings Limited


Friday, 18 Jan 2013 07:00am EST 

Afrimat Ltd announced that it has made an offer to acquire 50.4% of Infrasors Holdings Limited from Hanchurch Asset Management and certain retiring management of Infrasors (the Sellers), being 93461108 ordinary shares of Infrasors which has been accepted by the Sellers (Proposed Transaction). The Proposed Transaction will grant Afrimat control of Infrasors. The transaction was unconditionally approved by the Competition Commission (In terms of Chapter 3 of the Competition Act 1998) on October 24, 2012. Afrimat has offered ZAR0.35 per share in terms of the Proposed Transaction and will settle the purchase price in cash on implementation of the Proposed Transaction. The effective date, being the date of implementation of the Proposed Transaction, will be the first business day following the end of the calendar month during which all conditions precedent have been fulfilled. Should the Proposed Transaction become unconditional, Afrimat will make an unconditional mandatory offer to all remaining Infrasors ordinary shareholders in terms of section 123 of the Companies Act. 

Company Quote

120.0
-5.0 -4.00%
21 Oct 2014