SENWES ANNUAL FINANCIAL STATEMENTS 2022
14.2 Falcon and Staalmeester merger Senwes purchased the remaining shares in Staalmeester Agricultural Equipment ( Pty ) Ltd (" Staalmeester ") from the noncontrolling shareholder on 1 May 2022 . Subsequently , Falcon Agricultural Equipment ( Pty ) Ltd (" Falcon ") acquired the total business operations of Staalmeester as effective from 1 May 2022 in terms of a disposal agreement . The consideration for the asset purchase was R59 million which included the value of the business and the net working capital as a going concern .
The consolidated business operations of both parties , which deals in the import and manufacturing of bespoke agricultural equipment , will lead to further unlocking of synergies within the group and avoid any possible duplication of services and expenses .
15 . Date for authorisation and issue of financial statements A mandate has been given to the chairman of the audit committee only , to approve any adjustments to the financial statements after the date of approval by the directors on 6 July 2022 .
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