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KAP acquires Steinhoff industrial assets

Feb 12 2013 14:57
I-Net Bridge

Company Data

KAP INDUSTRIAL HOLDINGS LIMITED [JSE:KAP]

Last traded 8
Change 0
% Change 1
Cumulative volume 1684099
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

[JSE:SNH]

Last traded 65
Change -1
% Change -2
Cumulative volume 15945028
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg – KAP Industrial Holdings [JSE:KAP] has acquired the industrial assets of Steinhoff Africa Holdings in a reverse acquisition‚ in which Kap issued 1‚912.8-million shares to Steinhoff with effect from April 2 2012‚ Steinhoff said in a trading statement on Tuesday.

It said Steinhoff Industrial Assets was treated as the acquirer and KAP as the acquiree.

As a result of this transaction KAP’s fully diluted earnings per share for the six months to end-December 2012 will be 25%-35% higher than the 11.9c of the year-earlier six-month period and KAP’s fully diluted headline earnings per share for the six months ended December 31 2012 will be between 15% and 25% higher than the previous six months (2011: 11.8c per share).

The results for the six months ended December 31 2012 are expected to be published on or about February 18.  

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