Acquisition of nursery business

Name of Issuer TWK Investments Limited
Country of Incorporation ZA
Registration Number 1997/012251/06
ISIN Number ZAEZ00000034
Share Code ZXTWI

Acquisition of nursery business

Shareholders are hereby advised that TWK Agri (Pty) Ltd, has acquired 51% of the shares in Sunshine Seedlings Services (Pty) Ltd (“SSS”), with effective date 1 September 2020.

In addition, TWK Agri (Pty) Ltd has been granted an irrevocable right to acquire a further 49% of the shares in SSS over the next 5 years at agreed terms and financial ratios.

SSS has grown from humble beginnings in 1982 to a large nursery business yielding some of the highest quality timber and vegetable seedlings in South Africa. SSS produces over 50 million vegetable seedlings annually, as well as 10 million forestry clones, 7 million forestry seedlings and 4 million essential oil seedlings and clones. SSS boasts more than 130 years of practical and academic experience from qualified agriculturalists and a well-established management team.

The current TWK Nursery business will be integrated into the SSS business.

The acquisition is aligned to TWK’s strategy to invest in the agricultural and forestry value chain.

By order of the Board of Directors.

MJ Potgieter

Piet Retief
02 October 2020