LBH - Liberty Holdings Limited - Further announcement in relation to the
LBH
LBH
LBH - Liberty Holdings Limited - Further announcement in relation to the
acquisition by Liberty of a controlling interest in CFC Insurance Holdings
Limited
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, 15 December 2009, 30 December 2009, 15 February 2010, 31 March 2010, 14
April 2010, 29 September 2010 and 13 December 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").
All of the outstanding conditions precedent to the Transaction have now been
fulfilled. Liberty will increase its shareholding in CfCIH to 56.82% immediately
following the distribution in specie by CfC Stanbic Holdings Limited of its
shareholding in CfCIH. Trading of CfCIH shares on the Nairobi Stock Exchange
will commence immediately thereafter. Accordingly the Renunciation Agreement
has been extended by agreement between the parties to 30 April 2011 to allow the
listing process to be completed.
By order of the Board
Liberty Holdings Limited
Braamfontein
28 February 2011
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Independent expert
Fidelis Partners
Legal advisors in South Africa
Werksmans
Legal advisors in Kenya
Coulson Harney
Date: 28/02/2011 17:05:00 Produced by the JSE SENS Department.
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