Nictus Holdings Limited (NMSE:NHL) agreed to acquire Trentyre (Namibia) (Pty) Ltd. from Magister Limited for NAD 34.5 million on November 29, 2013. Immaterial up or downward adjustments will be made to the purchase price having regard to the business activities of Trentyre between August 2013 and date of this announcement. The deal is subject to the concluding of the commercial agreements and approval from competition authorities.

The effective date of the transaction will coincide with approval from the Namibian Competition Commission, which is expected to be in March 2014. SGA Chartered Accountants and Auditors acted as accountant and Veritas Board of Executors (Proprietary) Limited acted as transfer agent for Nictus Holdings Limited. SGA Chartered Accountants was paid an advisory fee of NAD 0.04 million.