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Stefanutti Stocks Holdings Limited (JSE:SSK) News - Update on the disposal of the Mining Services Division
Stefanutti Stocks Holdings Limited
(Registration number 1996/003767/06)
Share code: SSK
ISIN: ZAE000123766
(“Stefanutti Stocks” or “the Company”)
UPDATE ON THE DISPOSAL OF THE MINING SERVICES DIVISION
Shareholders are referred to the announcement released on the Stock Exchange News Service on 1
April 2021 advising that the Company’s major subsidiary, Stefanutti Stocks Proprietary Limited,
registration number 2003/022221/07, (the “Seller”), and Akhona Mining Services Proprietary Limited,
registration number 2018/524955/07, (the “Purchaser”) had entered into a sale of business agreement
(the “Agreement”) dated 31 March 2021. In terms of the Agreement, the Mining Services Division of the
Seller, comprising the Materials Handling and Tailings Management sub-divisions, would be sold to the
Purchaser on the terms and conditions set out in the Agreement (the “Proposed Transaction” or the
“Disposal”).
Stefanutti Stocks hereby advises shareholders that not all conditions precedent to the Agreement have
been fulfilled or waived, as the case may be, and consequently the Disposal will not be implemented.
Johannesburg
23 August 2021
Sponsor: Bridge Capital Advisors Proprietary Limited
Legal Advisor: Webber Wentzel
Transaction Advisor: Birkett Stewart McHendrie Proprietary Limited
Date: 23-08-2021 07:20:00
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