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Lib-Hold - cash payment for fractional entitlement
Shareholders of Liberty and SBG are referred to the Circular and to the finalisation announcement published on SENS on Monday, 7 February 2022 (“Finalisation Announcement”), and in the press on Tuesday, 8 February 2022, wherein it was confirmed that the Scheme has become unconditional with effect from Monday, 7 February 2022. The implementation of the Scheme will result in SBG acquiring all of the Scheme Shares for the Scheme Consideration (being (i) 0.5 SBG Shares, subject to the Rounding Principle ("SBG Consideration Shares"); and (ii) an amount of R14.40 in consideration for each Scheme Share) on the Scheme Implementation Date.
The settlement of the SBG Consideration Shares to Scheme Participants may result in fractional entitlements for the recipients.
Cash value of fractional entitlements
Fractional entitlements to the SBG Consideration Shares will be rounded down to the nearest whole number, and the aggregated fractions of the SBG Consideration Shares to which Scheme Participants are entitled will not be transferred to them but will instead be sold in the market as soon as practicable after the Scheme Implementation Date.
Scheme Participants will instead receive the cash value ("Cash Value") of their fractional entitlements to the SBG Consideration Shares as determined in accordance with the Listings Requirements. The Cash Value of Scheme Participants' fractional entitlements will be paid to Scheme Participants as soon as practicable after the Scheme Implementation Date.
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