ITALTILE LIMITED - Update on Ceramic Acquisition and Rights Offer
ITE 201609140059A
Update on Ceramic Acquisition and Rights Offer
Italtile Limited
Incorporated in the Republic of South Africa
(Registration number 1955/000558/06)
Share code: ITE ISIN: ZAE000099123
(“Italtile”)
UPDATE ON CERAMIC ACQUISITION AND RIGHTS OFFER
Italtile shareholders are referred to the “Request for consideration filed with the Competition Tribunal
regarding proposed merger between Italtile and Ceramic” announcement published on SENS on
11 August 2016, the “Competition Commission ruling on proposed merger between Italtile and Ceramic”
announcement published on SENS on 28 July 2016, the “Binding Offer to Acquire Shares in Ceramic, Rights
Offer Declaration and Withdrawal of Cautionary” announcement published on SENS on 20 July 2016 and the
“Offer to Acquire Shares in Ceramic, Details of the Italtile Rights Offer and Renewal of Cautionary”
announcement published on SENS on 26 April 2016.
In the announcement of 11 August 2016, the board of directors of Italtile (“Board”) advised shareholders that
a Request for Consideration was filed with the Competition Tribunal on Thursday, 11 August 2016.
The Board wishes to advise shareholders that an in limine Competition Tribunal hearing ("the Hearing") will
be held to consider certain circumscribed aspects of the merger. The proposed dates for the Hearing are 25
and 26 October 2016.
Furthermore, with reference to the announcement of 20 July 2016 and given the rationale for the Rights
Offer, the Rights Offer will be postponed pending the outcome of the Hearing.
Shareholders will be advised of the outcome of the Hearing and its impact on the Rights Offer in due course.
Johannesburg
14 September 2016
Sponsor
Merchantec Capital
Legal Advisor to Italtile
Hogan Lovells (SA) Inc.
Corporate and Legal Advisor to Rallen
Rabin & Associates Proprietary Limited
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