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Acquisition of the Remaining Shareholding in Conexlink (Pty) Ltd
TELEMASTERS HOLDINGS LIMITED
(Registration Number: 2006/015734/06)
JSE Code: TLM ISIN: ZAE 000093324
(“TeleMasters” or “the Company”)
ACQUISITION OF THE REMAINING SHAREHOLDING IN CONEXLINK (PTY) LTD (“CONEXLINK”)
Introduction
The board of directors of TeleMasters (“Board”) is pleased to announce that TeleMasters
(“Purchaser”) has reached an agreement with the trustees for the time being of Madison Trust
(“Seller”) in term of which the Company will purchase the remaining 74 shares, being 74% of the
total shares in issue, in ConexLink (“Sale Shares”) which it does not already own for a purchase
consideration of R3 922 000 (three million nine hundred and twenty-two thousand Rand)
(“Purchase Consideration”) (“Acquisition”).
Rationale for the Acquisition
ConexLink is uniquely positioned as a niche Data Centre Provider in South Africa that provides a
carrier and vendor neutral facility which enables companies to implement both physical
security and geo-redundancy risk management strategies.
The ConexLink business is complimentary to all of the other companies within the TeleMasters
Group and the Board is of the opinion that that the technology mix, strategic partnerships and
infrastructure availability held in ConexLink will provide TeleMasters with significant revenue
growth opportunities in the near to medium term. Furthermore, the strong and continued
growth in the global data centre market makes it strategic to TeleMasters’ future growth
opportunities.
Purchase Consideration and Effective Date of the Acquisition
The Purchase Consideration is payable in cash by the Purchaser to Seller within 60 (sixty) days of
the date of this announcement. Notwithstanding the date of payment of the Purchase
Consideration, the Sale Shares are acquired with effect from 1 April 2021 and all risks in and
benefits attaching to the Sale Shares will pass to the Purchaser with effect from this date.
Financial Information
The financial information set out below is extracted from the management accounts of
ConexLink for the 12 month period ended 28 February 2021. The management accounts were
prepared in accordance with IFRS for SMEs, but may not contain all the adjustments that may
be required in terms of the accounting policies of TeleMasters.
Loss after tax R1 063 416
Net liabilities R2 326 512
Conditions Precedent, Warranties and Other Significant Terms of the Acquisition
The Acquisition is not subject to any conditions precedent, warranties or other significant terms
not disclosed above.
Classification of the Acquisition
The Acquisition constitutes a category 2 transaction in terms of the JSE Limited’s Listings
Requirements. The Seller is not a related party to TeleMasters.
Waterfall City
7 April 2021
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 07-04-2021 05:27:00
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