ZEDER INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2006/019240/06) Share code: ZED
ISIN: ZAE000088431
LEI: 37890022AF5FD117D649 ("Zeder" or "the Company")
IMPLEMENTATION OF THE DISPOSAL OF THE LOGISTICS GROUP
Shareholders are referred to Zeder's announcement released on the Stock Exchange News Service of the JSE limited ("SENS") on 12 November 2021 in terms of which Zeder advised shareholders of the conclusion of the agreement for the disposal by Zeder Financial Services Limited, a wholly-owned subsidiary of Zeder, of its shareholding in The Logistics Group Proprietary Limited ("TLG Disposal").
Shareholders are advised that the remaining conditions precedent have been met and the TLG Disposal was implemented on 31 March 2022.
The TLG Disposal comprised an initial disposal consideration for Zeder of R1.35bn, which was received on 31 March 2022, and additional earn-out payments totalling R218m, payable in cash. The earn-out payments are generally linked to certain extensions and or renewals of agreements. The timing of these extensions cannot be determined although it is estimated to be concluded in the current financial year, but there is no certainty regarding same.
Stellenbosch
1 April 2022
Transaction Advisor and Sponsor
Independent Joint Sponsor
PSG Capital
Tamela HoldingsLegal Advisor
Project Advisor Khanda Capital
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Zeder Investments Limited published this content on 01 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2022 09:02:04 UTC.