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Clientèle - proposed delisting
Clientèle plans to delist from the JSE main board through a conditional offer to shareholders, paying 85% of the embedded value per share as at 31 December 2025, escalated by 7% annually. The offer price is R19.90 per share, a 25.47% premium to the 30-day VWAP. The delisting is subject to shareholder approval, regulatory clearances, and acceptance conditions, with a maximum acceptance limit of 8%. The company will fund the offer through internal resources and proceeds from a proposed black shareholding increase via a subscription agreement with Acacia Empowerment Investments (Pty) Ltd. (AEI). The transaction aims to address liquidity issues and unlock value for shareholders.
Clientèle will distribute the circular to shareholders containing the full terms and conditions of the proposed transaction and the specific issues, including a notice convening a general meeting of shareholders at which shareholders will be requested to, inter alia, approve the delisting and the specific issues.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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