SAPPI LIMITED - SAP : Acquisition by Sappi of Matane mill from the Rayonier Advanced Materials Group - fulfillment of conditions precedent
SAP : Acquisition by Sappi of Matane mill from the Rayonier Advanced Materials Group - fulfillment of conditions precedent:
Sappi Limited
(Incorporated in the Republic of South Africa)
Registration number: 1936/008963/06
JSE share code: SAP
ISIN code: ZAE000006284
("Sappi" or the "company")
Johannesburg
Announcement
04 November 2019
Acquisition by Sappi of Matane mill from the Rayonier Advanced Materials Group -
fulfillment of conditions precedent and notice to shareholders in terms of section
45(5)(a) of the South African Companies Act, 2008
Shareholders are referred to the announcement released by Sappi on the Stock Exchange
News Service of the JSE on 01 August 2019 regarding the acquisition of the Matane high-
yield hardwood pulp mill in Quebec, Canada from Rayonier Advanced Materials Inc ("the
acquisition").
The Board of directors of Sappi wishes to advise shareholders that all conditions precedent
relating to the acquisition have now been fulfilled at an adjusted purchase price of
approximately $158 million with the closing completed on 03 November 2019.
Notice is also hereby given to shareholders in terms of section 45(5)(a) of the South African
Companies Act, 2008 that the Board of Sappi, in order to give effect to the acquisition, has
adopted resolutions to provide financial assistance in the form of a guarantee to a related
company as contemplated in section 45(2) of the Companies Act, the total value of which
exceeds one-tenth of 1% of Sappi's net worth.
ENDS
Sponsor : UBS South Africa (Pty) Ltd
Date: 04/11/2019 03:00:00
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