2010/02/05

NCS RESINS ENTERS SHAREHOLDING PARTNERSHIP WITH INVESTEC

With the investment horizon of Medu Capital, our current major shareholder, coming to a close, we are extremely pleased to announce that Investec Principal Investments will be taking over as our significant shareholder of reference with effect from 01 February 2010.

The last remaining condition precedents are the approval of the Competition Commission and the issue of audited financial statements, both expected in the next month. The successful partnership involving institutional and management shareholding will continue as in the past with Investec effectively replacing Medu. Nothing will change with regard to NCS’s stated vision of “Preferred supplier through Service Excellence.”

Investec are on-balance sheet investors with no exit time pressures and are thus focused on longer term growth. Investec refer to this as their “buy – build – grow“ strategy. NCS will join a stable of Investec’s platform investments including our former stablemates from Sentrachem days, NCP Chlorchem.

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