“The aggregate purchase consideration of which will be settled by the Company through the payment to the Sellers of a cash consideration and by issuing ordinary shares to the Sellers,’’ the company explained in an issued statement to their shareholders .
The reason behind the transaction is to align the interests of the Sellers more closely to those of the Company’s group (not only those of Logico) and for CA Sales to acquire 100 percent of Logico. With this in mind, the board of the Company has resolved to conclude the Transaction, in terms of which the Sellers will be acquiring additional shares in CA&S in exchange for their shareholding in Logico.
According to the statement the Sellers will sell their respective Logico Shares to CA Sales in two separate tranches, the aggregate purchase consideration of which will be settled partly through a cash payment and partly through the issuing by CA Sales of new ordinary shares to the Sellers.
Logico is primarily a Fast Moving Consumer Goods (FMCG) Sales & Distribution Business offering various solutions to its clients for the most effective solution for the Swaziland market while CA sales operates within the FMCG industry and delivers services to blue chip manufacturers, both locally and internationally. Its service offering includes selling, merchandising, warehousing, distribution, debtor’s administration, marketing & promotions, point of sale warehousing and training. The group has offices and facilities in all the main centers throughout Botswana, Swaziland, Namibia, South Africa, Lesotho, Zimbabwe, Zambia and Mozambique
