I would have expected some impact from the interest rates cap on the finance costs. Any company reaping the benefits of the rate cap?

PRESS RELEASE

Flame Tree Group to acquire leading playground equipment manufacturer and distributor, PolyPlay Limited
 PolyPlay is a leading manufacturer of playground equipment in East Africa serving multiple market segments
 Polyplay offers one of the most extensive collection of outdoor and indoor play lines in East Africa
 PolyPlay acquisition is the fourth acquisition since Flame Tree Group listed on the Nairobi Securities Exchange in November 2014
 The acquisition is for an un-disclosed amount and is subject to approval by The Competition Authority of Kenya

Nairobi, September 25 2017 – Diversified manufacturer and trading company, Flame Tree Group (NSE:FTGH) has today announced its acquisition of PolyPlay a major commercial playground equipment manufacturer and distributor based in Nairobi, Kenya. The acquisition is subject to approval from The Competition Authority of Kenya.
PolyPlay is a leading manufacturer of playground equipment in East Africa and has been in operation for the past 10 years. The company serves multiple market segments, including schools, daycare facilities, restaurants, hotels, resorts, and housing developments. The Company has established itself as a market leader in the early childhood and shade segments due to its design and engineering expertise, use of high quality materials, emphasis on safety and ability to customize solutions for clients.

“The acquisition of PolyPlay is a fundamental strategic boost for the Flame Tree Group,” said Mr.Heril Bangera, CEO of Flame Tree Group. “We are very excited to add PolyPlay to our strong portfolio of brands.
PolyPlay offers one of the most extensive collections of outdoor and indoor play lines in East Africa and has done an excellent job serving the growing playground recreation market in Kenya. With the rapid urbanization across Africa, we believe the acquisition represents immense growth potential not only in Kenya but across Africa as the demand for playground equipment in parts of Africa is still not satisfied.“

Mr.Derrick Correa, the founder and current Managing Director, will continue on at PolyPlay to grow the company. He will be responsible for ensuring the continued growth and further development of PolyPlay brand in Kenya and across Africa. Mr.Derrick said that the acquisition by Flame Tree Group accords PolyPlay the opportunity "to align its capabilities with Flame Tree Group industry leadership.”

“Our playground equipment is a combination of adequate, orderly and well organized playground spaces, appropriately developed play equipment, proper playground surfacing combined with regular and adequate playgrounds maintenance inspection. Flame Tree Group gives PolyPlay an opportunity to
expound on this expertise through its industry leadership in the different African countries where it has manufacturing and distribution presence” he says.
According to Mr.Bangera, PolyPlay will continue to work closely with different stakeholders including relevant government departments and estate developers to address the issue around rapid urbanization that is impacting on habitation especially for preschool children to effectively participate in outdoor activities. “Children need to be able to grow in an environment where they are safe secure and able to learn and play. We are committed to working closely with relevant government departments and developers to create fun spaces for children to be children”.

PolyPlay acquisition becomes the fourth by Flame Tree Group since its listing on the Nairobi Securities Exchange in November 2014. Flame Tree Group recently announced a 5% growth in its 2017 half year revenue from KES1.20 billion in H1 2016 to KES1.26 billion H1 2017.

About Poly Play
For more information visit our website on www.polyplay.co.ke and
You tube link https://www.youtube.com/watch?v=YafMkRNef64&feature=youtu.be

Really weird acquisition....still not impressed