Change in Acquisition Terms

RNS Number : 3311C

Ocean Wilsons Holdings Ld

30 April 2012

 

Ocean Wilsons Holdings Limited

Change in Acquisition Terms

Our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the following announcement.

Wilson Sons Limited announces that, further to the announcement on the 2^nd of June 2011, it has, through its wholly-owned subsidiary Brasco Logística Offshore Limitada ("Brasco"), signed an amendment to the contract for the acquisition of 100% of the issued share capital of Bric Brazilian Intermodal Complex S/A. ("Briclog") adjusting the consideration to one hundred and sixteen million five hundred thousand Brazilian Reais (R$116.5 million). The closing of the acquisition is subject to conditions precedent expected on or before the 5^th of October 2012.

Consideration for the acquisition is payable in three amounts including R$10 million (ten million Reais) already paid in deposit, R$ 53.25 million (fifty three million two hundred and fifty thousand Reais) payable on satisfaction of the conditions precedent, and R$53.25 million (fifty three million two hundred and fifty thousand Reais) 300 (three hundred) days from the closing with the latter two payments adjusted for movement in the Brazilian index of consumer prices (IPCA) from the date of the amendment.

Company Contact

Keith Middleton                                     1 441 295 1309

Seymour Pierce Limited                           020 7107 8000

Guy Peters - Corporate Finance

David Banks - Corporate Broking

 

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