| Thu 30 Nov 2017, 16:48 | | STEINHOFF AFRICA RETAIL LIMITED - Exercise Of Call Options To Acquire A Controlling Interest In Shoprite Holdings Limited |
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SRR 201711300065A
Exercise Of Call Options To Acquire A Controlling Interest In Shoprite Holdings Limited
Steinhoff Africa Retail Limited
(Previously K2017221869 (South Africa) Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2017/221869/06)
Share Code: SRR
ISIN: ZAE000247995
(“STAR” or the “Company”)
EXERCISE OF CALL OPTIONS TO ACQUIRE A CONTROLLING INTEREST IN SHOPRITE HOLDINGS
LIMITED (“SHOPRITE”)
Shareholders are referred to STAR’s Pre-listing Statement dated 4 September 2017 (“Pre-listing
Statement”) and the successful listing by the Company on the main board of the JSE Limited
(“JSE”) on 20 September 2017 (the “Listing”).
In addition to the Listing and as referred to in the Pre-listing Statement, STAR has, as part of its
planned expansion and subject to certain terms and conditions, exercised call options to
acquire approximately 23.1% economic interest in and approximately 50.6% voting control of
Shoprite.
STAR’s vision is to continue to focus on being the preferred and most convenient destination
for the African consumer and all other stakeholders, by providing everyday essential products
at affordable prices. In furthering this vision, STAR remains of the opinion that a strategic
investment in a leading African food and grocery retailer will support its ability to further
enhance its relevance to the growing African consumer base, and better protect its ability to
compete against international retailers. In this regard, the investment in Shoprite, one of
Africa’s leading food and grocery retailers with a track record of successful growth and
expansion in South Africa and across the continent, will add a complementary food and
grocery offering to STAR.
The implementation of the investment in Shoprite is subject to a number of conditions
precedent as set out in the Pre-listing Statement, which include, inter alia, merger filings with
various African Competition Authorities. To this end, the filings are being completed and will
be submitted to the relevant authorities in the foreseeable future.
Shareholders will be informed once all the conditions precedent for the implementation of the
transaction have been met.
Stellenbosch
30 November 2017
Sponsor
PSG Capital
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