ZXSWS - Acquisition of Falcon Agricultural Equipment
|Name of Issuer||Senwes Limited|
|Country of Incorporation||ZA|
ACQUISITION OF FALCON AGRICULTURAL EQUIPMENT (PTY] LIMITED (“FALCON”)
Shareholders are advised that Senwes acquired the business of Falcon with effect from 1 November 2019.
Falcon, established in 1985 and operating from Howick, KwaZulu Natal, provides agricultural equipment to mainly the agricultural sector and distributes products country-wide through approximately 350 authorised dealers. It also exports equipment to twelve African countries. Falcon is one of the largest suppliers of rotary cutters in Africa.
The addition of the Falcon business to the Senwes Equipment portfolio symbolises Senwes’ strategy to grow and diversify by means of consolidation and integration in the agricultural and food value chain and compliments Senwes Equipment’s extensive range of customer solutions.
The acquisition currently does not have any material impact on Senwes’ net asset value, headline earnings per share or earnings per share.
By order of the directors
Appointed Adviser: EM JOYNT (e-mail: Elmarie.email@example.com)
Notifications Officer: CLAUDI SMIT (e-mail:Claudi.firstname.lastname@example.org)