Alviva Holdings Limited
(Formerly Pinnacle Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1986/000334/06
Share Code: AVV
(“Alviva” or “the Group”)
VOLUNTARY ANNOUNCEMENT REGARDING THE ACQUISITIONS OF SINTREX INTEGRATION SERVICES (PROPRIETARY) LIMITED (“SINTREX”) AND GRIDCARS (PROPRIETARY) LIMITED (“GRIDCARS”)
On 6 September 2017, Alviva, through its subsidiary company DCT Holdings (Pty) Limited (“DCT”), entered into an agreement to acquire 51% of the shareholding in Sintrex, and has an option to acquire a further 24% within a two year period following the effective date of the transaction. Sintrex is an infrastructure management company based in South Africa providing end-to-end IT solutions and services.Sintrex develops IT products, services and solutions that, along with global partnerships, provide clients with the visibility and performance insight into IT infrastructure management, network management and monitoring solutions. The independence of Sintrex across service providers, as well as the relationship between service providers and clients, is critical to the Sintrex business model and plays a key role to ensure objective SLA and service delivery monitoring. Channel integrity remains a key element within the IT supply chain and, to this end,Sintrex will operate as a stand-alone entity within DCT.
The Sintrex acquisition will not only add a specialised products and services offering but also a higher margin business to the Group. The transaction is inter alia conditional on clearance from the relevant competition authorities.
In addition, Alvivahas acquired,for a nominal amount, 75% of Gridcars through its subsidiary Solareff (Pty) Limited. Gridcars is a Pretoria based developer of electric vehicle charge point software management systems and supplier of charge points. Gridcars is playing a leading role in building the electric vehicle industry through engagement with vehicle manufacturers and various other stakeholders and to that end, Gridcars is a founding member of the Electric Vehicle Industry Association. Alviva believes that growing a network of charge points in South Africa will be the enabler of a carbon free transport system. The real-time interactive eMobility software system allows users to find available charge points and to manage the rates and billing for energy consumed. The acquisition of Gridcars forms a key element of our renewable energy business strategy. This transaction is now unconditional.
Both of these acquisitions fall below the threshold of the categorisation of transactions which require disclosure in terms of the JSE Limited’s Listings Requirements. Nevertheless, the Board of Alviva deemed it appropriate to inform shareholders of the acquisitions. The counter parties in both of these transactions are not related parties.
7 September 2017
Deloitte & Touche Sponsor Services (Pty) Ltd