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SUPER GROUP LIMITED - Completion of acquisition of Lieben and GLS

Release Date: 04/07/2019 16:14
Code(s): SPG     PDF:  
Wrap Text
Completion of acquisition of Lieben and GLS

Super Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1943/016107/06)
Share code: SPG
ISIN: ZAE000161832
(“Super Group”)


Further to the announcement released by Super Group on the
Stock Exchange News Service on Friday, 21 June 2019 notifying
shareholders that Super Group proposed to acquire 65% of
LiebenLogistics Proprietary Limited (“Lieben”) and 51% of GLS
Supply   Chain  Equipment   Proprietary Limited   (“GLS”)(“the
Acquisitions”) Super Group notes:

1. Change in certain values

  Subsequent to the previous announcement the following values
  have changed:

  •   The forward profit after tax price earnings multiple of
      the Lieben subscription is 7.4 times, previously 8.1
  •   The net asset value of the Lieben subscription will be a
      minimum of R89 972 531, previously R98 752 531.
  •   The forecasted profit after taxation associated with the
      above assets is R103,5 million, previously R94,7 million,
      which is based on the profit warranties from the vendors.

  The above forecast has not been reviewed or reported on by
  Super Group’s external auditors.

2. Conditions Precedent

  Super Group today announces that all conditions precedent to
  the Acquisitions have been fulfilled. Accordingly, the
  Acquisitions were implemented on 3 July 2019

4 July 2019

Investec Bank Limited

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