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Shares / Re: Pulverized Sand Box
« on: May 19, 2015, 12:26:12 pm »
Release Date: 19/05/2015 10:45:00 Code(s): OCE [Email this JSE Sens Item to a Friend] [Printer Friendly Version]
Announcement regarding the proposed acquisition by Oceana Group Limited of Daybrook Fisheries
OCEANA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1939/001730/06)
JSE share code: OCE
NSX share code: OCG
ISIN: ZAE000025284
(“Oceana” or “the Company” or “the Group”)
ANNOUNCEMENT REGARDING THE PROPOSED ACQUISITION BY OCEANA
OF DAYBROOK FISHERIES, INC. (“DAYBROOK FISHERIES”) AND FURTHER
CAUTIONARY ANNOUNCEMENT
1. INTRODUCTION
The board of directors of Oceana (“the Board”) is pleased to announce that it has
concluded an agreement (“the Stock Purchase and Merger Agreement”) to
acquire indirectly by combination of a merger and stock purchase, the entire
issued share capital of Daybrook Fisheries for a purchase consideration of
USD 382.3 million (approximately ZAR 4,588 million) to be satisfied through a
combination of Oceana cash on hand, term debt facilities (as required), an equity
bridge facility and United States (“US”) debt (as discussed more fully below) (“the
Proposed Acquisition")*.
Daybrook Fisheries is a vertically-integrated fishing company engaged in
harvesting and processing of Gulf Menhaden into fishmeal and fish oil.
The Proposed Acquisition is classified as a Category 1 transaction for Oceana
under the Listings Requirements of the JSE Limited (“JSE”).
*Unless otherwise noted, all USD figures have been converted at the ZAR/USD
exchange rate of 12.00, being the hedged forward exchange rate at which the
Proposed Acquisition is expected to be completed. Capitalised terms used in this
section have the same meaning as ascribed in the body of this announcement.
Announcement regarding the proposed acquisition by Oceana Group Limited of Daybrook Fisheries
OCEANA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1939/001730/06)
JSE share code: OCE
NSX share code: OCG
ISIN: ZAE000025284
(“Oceana” or “the Company” or “the Group”)
ANNOUNCEMENT REGARDING THE PROPOSED ACQUISITION BY OCEANA
OF DAYBROOK FISHERIES, INC. (“DAYBROOK FISHERIES”) AND FURTHER
CAUTIONARY ANNOUNCEMENT
1. INTRODUCTION
The board of directors of Oceana (“the Board”) is pleased to announce that it has
concluded an agreement (“the Stock Purchase and Merger Agreement”) to
acquire indirectly by combination of a merger and stock purchase, the entire
issued share capital of Daybrook Fisheries for a purchase consideration of
USD 382.3 million (approximately ZAR 4,588 million) to be satisfied through a
combination of Oceana cash on hand, term debt facilities (as required), an equity
bridge facility and United States (“US”) debt (as discussed more fully below) (“the
Proposed Acquisition")*.
Daybrook Fisheries is a vertically-integrated fishing company engaged in
harvesting and processing of Gulf Menhaden into fishmeal and fish oil.
The Proposed Acquisition is classified as a Category 1 transaction for Oceana
under the Listings Requirements of the JSE Limited (“JSE”).
*Unless otherwise noted, all USD figures have been converted at the ZAR/USD
exchange rate of 12.00, being the hedged forward exchange rate at which the
Proposed Acquisition is expected to be completed. Capitalised terms used in this
section have the same meaning as ascribed in the body of this announcement.
