18th May 2012 13:08
Watermark Global Plc("Watermark" or the "Company")
Transaction Update
Further to the Company's announcement of 1 May 2012, Watermark is pleased to advise that Capricorn Investment Holdings Limited ("Capricorn") has, today, announced that certain conditions precedent to the acquisition by Capricorn of Western Utilities Corporation (Pty) Ltd. ("WUC") from Watermark (the "Transaction") have been fulfilled.
Completion of the Transaction is expected to take place upon the listing of the consideration shares being issued to Watermark which, owing to certain regulatory delays, is now expected to occur on or around 11 June 2012.
One condition that has recently been satisfied is the requirement for consent to the Transaction from a lender to WUC who has provided a loan of Rand 10 million (approximately £0.75 million). In connection with that consent, Watermark has provided certain indemnities to Capricorn.
Further announcements will be made as appropriate to update shareholders on the progress of the transaction and the expected completion date.
Enquiries
Investor Relations
Charles Zorab Tel: + 44(0) 20 7233 1462[email protected]
Nominated Adviser: Cenkos SecuritiesIan Soanes Tel: +44(0)20 7397 8900
Copyright Business Wire 2012
Related Shares:
Armadale Capital