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Provider: Reuters Investment Profile

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Sherbourne Capital Limited Announces Acquisition Of Emergent Properties Limited

Wednesday, 24 Jul 2013 11:00am EDT 

Sherbourne Capital Limited announced that on July 23, 2013, the Company entered into an agreement with Emergent Properties Limited (EMG) to acquire both the entire issued ordinary share capital and issued preferential share capital of EMG, (the Agreement), for a total purchase consideration of ZAR2,500,000 to be settled by way of an issue of 50,000 000 Sherbourne ordinary shares at an issue price of ZAR0.05 a share (the Transaction). The Transaction will result in EMG holding 6.01% of issued ordinary share capital in Sherbourne. The Effective Date, being the date of implementation of the Transaction, will be the first business day following the fulfillment of all suspensive conditions. 

Company Quote

1.0 +100.00%
23 Jul 2013