Examples of BDM Holdings in a sentence
In terms of the BDM Holdings BEE transaction, Barkomax subscribed for a 25% shareholding in BDM Management, a 25.391% shareholding in BDM Projects, a 11% shareholding in BDM Staffing and a 25% shareholding in BDM Finance as set out in paragraph 4.6.2 of the Circular for a total subscription price of R47.98 million, which amount has been set-off against the loans payable in the BDM Holdings subsidiaries, which arose subsequent to the share repurchases detailed in note 6 above.
Buyer shall have received from the Sellers and TRW resolutions adopted by their respective boards of directors or shareholders approving this Agreement, the Ancillary Agreements and the transactions contemplated hereby and thereby for the Entity Seller, Asset Seller and TRW France and BDM Holdings.
Each Acquired Entity is a direct or indirect wholly owned subsidiary of the Entity Seller, and each of TRW UK and TRW France is a direct wholly owned subsidiary of BDM Holdings.
It is secured through the purchase and discounting of invoices, a 20% retention margin, a cession of receivables in favour of Nedbank, unlimited cross sureties by BDM Holdings and BDM Management and unlimited suretyships (including cession of loan account) by JG Nieuwoudt, the Nieu Ronda Family Trust, EL Borole, PJJ Dry and NG Thiart.
In terms of the BDM Holdings internal restructuring, BDM Management repurchased 25% of its own shares, BDM Projects repurchased 25.391% of its own shares and BDM Staffing repurchased 11% of its own shares from BDM Holdings as detailed in paragraph 4.6.1. of the Circular.
There have been no material changes in the financial or trading position of the BDM Group since its results for the year ended 28 February 2013, save for the declaration of a dividend, repayment of loans, the BDM Holdings internal restructuring and BEE transaction as detailed in paragraph 4.6 and paragraph 4.7 of the Circular.
The value of the non-controlling interest in BDM Group has been calculated by applying the percentage shareholding that Barkomax subscribed for in each of the BDM Holdings subsidiaries to the total equity value in each of the aforementioned subsidiaries for R15.085 million.
In terms of the Acquisitions, 133 315 448 M&S shares will be issued to the BDM Holdings Vendors, 80 955 014 M&S shares will be issued to the Minority Interests Vendors and 18 502 264 M&S shares will be issued to the BDM Namibia Vendors.8. Identified intangible assets acquired as a result of the Acquisitions are deemed to be approximately R21.3 million, while the goodwill acquired is deemed to be approximately R61.3 million.
Shareholders are referred to the detailed cautionary announcement released by the Company on 21 June 2013, wherein shareholders were advised that the Company was in an advanced stage of finalising formal agreement(s) with BDM Holdings Proprietary Limited (“BDM Holdings”) regarding a proposed transaction in terms whereof the Company will acquire BDM Holdings and its subsidiaries (“the BDM Group”).
OTHER RELEVANT INFORMATION 9.1. The BDM Holdings Vendors, Minority Interest Vendors, BDM Namibia Vendors and M&S have provided warranties and indemnities to each other that are standard to a transaction of this nature.