STELLAR CAPITAL PARTNERS LIMITED - Voluntary announcement in respect of the disposal of two Tellumat business units2020/06/30 08:00:00
Download PDF Stock report
Voluntary announcement in respect of the disposal of two Tellumat business units STELLAR CAPITAL PARTNERS LIMITED Incorporated in the Republic of South Africa (Registration number: 1998/015580/06) Share code: SCP ISIN: ZAE000198586 ('Stellar Capital') VOLUNTARY ANNOUNCEMENT IN RESPECT OF THE DISPOSAL OF TWO TELLUMAT BUSINESS UNITS Stellar Capital wishes to inform shareholders that Tellumat Proprietary Limited (“Tellumat”), a 49% investee company of Stellar Capital, have disposed of its Air Traffic Management and Defence & Security business units to Hensoldt South Africa (“Transaction”). The Transaction will be effective as soon as all regulatory approvals have been obtained and is subject to warranties and guarantees that are normal for a transaction of this nature. Hensoldt South Africa and Tellumat have business areas that complement each other, including sensors and communications, particularly for unmanned aerial vehicles and other airborne intelligence, surveillance and reconnaissance (ISR) applications. The Transaction does not meet the requirements for a categorised transaction which require disclosure in terms of the JSE Limited Listings Requirements as Tellumat is not a subsidiary of Stellar Capital. Nevertheless, the Board of Stellar Capital deemed it appropriate to inform shareholders of the Transaction. Cape Town 30 June 2020 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 30-06-2020 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.