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Indequity - finalisation announcement
Shareholders are referred to:
- the following announcements released on SENS:
- the Firm Intention Announcement dated 24 August 2020 regarding, inter alia,:
o an offer by Indequity to acquire all of the Ordinary Shares, excluding the Excluded Ordinary Shares, being a total of 3 303 736 Ordinary Shares for a cash consideration of R8.00 per Ordinary Share, in accordance with the provisions of sections 48 and 114(1)(e) of the Companies Act, by way of a scheme of arrangement (“Ordinary Share Scheme”);
o separate to the Ordinary Share Scheme, but concurrently with it and in compliance with the requirements for the Delisting Resolution, a conditional General Offer by Indequity to holders of Ordinary Shares to acquire all of the Ordinary Shares for a cash consideration of R8.00 per General Offer Share, in accordance with the provisions of sections 48 and 117(1)(c)(v) of the Companies Act and paragraphs 1.15(c) and 5.69 of the Listings Requirements, which will be implemented only if the Ordinary Share Scheme fails;
o the subsequent Delisting of all of the Ordinary Shares from the JSE in terms of paragraph 1.17(b) of the Listings Requirements, pursuant to the implementation of the Ordinary Share Scheme or, if the Ordinary Share Scheme fails, pursuant to the Delisting Resolution being approved, and the General Offer being implemented;
o the voluntary repurchase by Indequity of all of the A Class Preference Shares, excluding the Excluded A Class Preference Shares, being a total of 7 536 545 A Class Preference Shares, for a cash consideration of R0.102 per A Class Preference Share (“A Class Preference Share Scheme”); and
o the voluntary repurchase by Indequity of all of the B Class Preference Shares, excluding the Excluded B Class Preference Shares, being a total of 5 414 552 B Class Preference Shares, for a cash consideration of R0.01 per B Class Preference Share (“B Class Preference Share Scheme”);
- the distribution of the Circular and Notices Convening the General Meeting of Indequity Shareholders, the Ordinary Share Scheme Meeting, the A Class Preference Share Scheme Meeting and the B Class Preference Share Scheme Meeting announcement dated 7 October 2020 (“Distribution Announcement”);
- the results of General Meeting of Indequity Shareholders, Ordinary Share Scheme Meeting, A Class Preference Share Scheme Meeting and B Class Preference Share Scheme Meeting announcement dated 19 November 2020; and
The Board is pleased to announce that, following receipt from the Panel on 3 December 2020 of a compliance certificate in terms of section 121(b)(i) of the Companies Act, the last remaining condition to the implementation of the Schemes has now been fulfilled.
Shareholders are referred to the Distribution Announcement and to the Circular for the salient dates and times relating to the Schemes.
The board of directors of the Company, individually and collectively, accepts full responsibility for the accuracy of the information contained in this announcement. In addition, the board of directors of the Company certifies that, to the best of its knowledge and belief, the information contained in this announcement pertaining to the Company is true and does not omit any facts that would be likely to affect the importance of any information contained herein, and that all reasonable enquiries to ascertain such information has been made.
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