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LBH
LBH
LBH - Liberty Holdings Limited - Further Announcement in Relation to the
Acquisition by Liberty of a Controlling Interest in CFC Insurance Holdings
Limited ("CFCIH")
LIBERTY HOLDINGS LIMITED
(Registration number 1968/002095/06)
Share code: LBH & ISIN: ZAE000127148
("Liberty" or "the Company")
FURTHER ANNOUNCEMENT IN RELATION TO THE ACQUISITION BY LIBERTY OF A
CONTROLLING INTEREST IN CfC INSURANCE HOLDINGS LIMITED ("CfCIH")
Shareholders are referred to the announcements published on SENS on 3
December 2009 (the "terms announcement"), 15 December 2009, 30 December 2009,
15 February 2010 and 31 March 2010 in which shareholders were advised that
Liberty would acquire control of CfCIH, a leading Kenyan wealth company that
comprises life, general and health insurance businesses in Kenya and Tanzania
(the "Transaction").
Shareholders were advised that the obligations of Liberty in relation to the
Transaction are subject to the fulfilment of, inter alia, the conditions
precedent as set out in detail in the terms announcement. The date by which
certain conditions precedent were to be fulfilled in relation to the share
subscription agreement is 30 April 2010. The date by which certain conditions
precedent are to be fulfilled in relation to the renunciation agreement is 30
September 2010.
Shareholders are hereby advised that the conditions precedent in relation to
the share subscription agreement have been fulfilled and accordingly the
share subscription agreement has been concluded unconditionally. Certain
conditions precedent to the renunciation agreement remain to be fulfilled.
By order of the Board
Liberty Holdings Limited
Braamfontein
15 April 2010
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Independent expert
Fidelis Partners
Legal advisors in South Africa
Werksmans
Legal advisors in Kenya
Coulson Harney
Date: 15/04/2010 17:30:02 Produced by the JSE SENS Department.
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JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
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completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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