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19/03/2012 : 10:32:33
SFN/SFNP - Sasfin Holdings Limited - Acquisition of the remaining 31.58%
SFN
Posted Mon, 19 Mar 2012

SFN SFNP SFN SFN/SFNP - Sasfin Holdings Limited - Acquisition of the remaining 31.58% interest in Premier Freight Proprietary Limited SASFIN HOLDINGS LIMITED (Incorporated In The Republic Of South Africa) (Registration Number 1987/002097/06) ("Sasfin" or "the Company") Ordinary share code: SFN ISIN: ZAE000006565 Preference share code: SFNP ISIN: ZAE000060273 ACQUISITION OF THE REMAINING 31.58% INTEREST IN PREMIER FREIGHT PROPRIETARY LIMITED ("PREMIER") 1. Details of the transaction Shareholders are advised that Sasfin has entered into an agreement with G C Taylor, E D Farber and P J Steyn ("the sellers") for the acquisition by Sasfin of an aggregate of 31.58% of the seller`s shareholding in Premier, a 68,42% subsidiary of Sasfin, for a total purchase consideration of R20,529 million in cash ("the acquisition"). Post the acquisition Premier will be a wholly owned subsidiary of Sasfin. 2. Nature of Premier business Premier is a multi model freight forwarding concern offering: - logistical solutions to the fields of international freight forwarding, both by air or sea; - customs clearance; - domestic deliveries; and - warehousing distribution solutions. 3. Rationale for the acquisition The acquisition is part of the Group`s strategy to grow & expand this service offering into a broader commercial solutions business. 4. Effective date The effective date of the transaction is 14 March 2012. 5. Conditions precedent There are no outstanding conditions precedent to the transaction. 6. Pro forma financial effects of the acquisition The pro forma financial effects of the acquisition on Sasfin`s earnings per share, headline earnings per share, net asset value and net tangible asset value per share for the interim period ended 31 December 2011 are not significant (i.e. are less than 3%), and are therefore not required to be disclosed. 7. Small related party transaction The shareholding in Premier has been acquired from the sellers, who are directors of Premier and therefore are related parties to Sasfin. Pursuant to discharging its obligation in terms of the Listing Requirements of the JSE Sasfin has engaged BDO Corporate Finance to provide written confirmation as an independent professional expert that the acquisition is fair to Sasfin shareholders. BDO Corporate Finance has confirmed that the acquisition is fair and its fairness opinion is available for inspection at Sasfin`s registered offices until 17 April 2012. 19 March 2012 Johannesburg Lead Sponsor KPMG SERVICES (PTY) LTD Joint Sponsor SASFIN CAPITAL A DIVISION OF SASFIN BANK LIMITED Date: 19/03/2012 10:32:33 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.


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