|KAP INDUSTRIAL HOLDINGS LIMITED - B-BBEE Transaction In Respect Of KAPs South African Logistics Business Implemented
|04 September 2018 13:15
B-BBEE Transaction In Respect Of KAP’s South African Logistics Business Implemented
KAP INDUSTRIAL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration Number 1978/000181/06)
Share code: KAP
(“KAP” or “the Company”)
B-BBEE TRANSACTION IN RESPECT OF KAP’s SOUTH AFRICAN LOGISTICS BUSINESS IMPLEMENTED
Shareholders are referred to the announcement published by the Company on 18 May 2018,
regarding the agreement reached between KAP, Sakhumzi Foundation Empowerment Trust
(“Sakhumzi”) and the FWG Pieters Trust (“Pieters Trust”), in terms of which Sakhumzi and Pieters
Trust would, through two wholly owned subsidiaries, subscribe for newly issued share capital in
Unitrans Supply Chain Solutions (Pty) Ltd (“USCS”), an indirectly wholly owned subsidiary of KAP,
housing it’s South African contractual logistics and supply chain operations (“the B-BBEE
Transaction”). As part of the B-BBEE Transaction, USCS would also acquire the equity in Xinergistix
(Pty) Ltd (“Xinergistix”) not already owned by USCS from an entity associated with the Pieters Trust,
being the CGL Custodian Trust No 124 (collectively the “Xinergistix Transactions”).
All the conditions precedent contained in the agreements required to implement the BBBEE
Transaction and the Xinergistix Transactions have been fulfilled and accordingly these
transactions were successfully implemented on 3 September 2018.
The ownership structure of USCS, following the implementation of the aforementioned
transactions, was verified by an independent verification agency. The Company is pleased to
confirm that the implementation of the B-BBEE Transaction resulted in USCS’ ownership structure
being greater than 51% black owned and greater than 30% black women owned in terms of the
B-BBEE Amended Codes of Good practice.
By order of the Board
4 September 2018
JSE Sponsor and corporate advisor: PSG Capital Proprietary Limited
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