| Fri 22 Sep 2023, 16:00 | | FINBOND GROUP LIMITED - Specific repurchases from related parties and renewal of cautionary announcement |
|
Specific repurchases from related parties and renewal of cautionary announcement
Finbond Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2001/015761/06)
Share code: FGL ISIN: ZAE000138095
('Finbond' or 'the Company')
SPECIFIC REPURCHASES FROM RELATED PARTIES AND RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders referred to the specific repurchases from related parties and cautionary announcement
released on SENS on 11 August 2023 which advised Shareholders of the proposed repurchase and
subsequent delisting of 340 523 358 Finbond ordinary shares (“the Repurchase Shares”), representing
approximately 38.55% of the total issued Finbond shares (“Finbond Shares”), 220 523 358 from Net1
Finance Holdings (Pty) Ltd, a private company incorporated in accordance with the laws of South
Africa (“Net1”) and 120 000 000 from Massachusetts Institute of Technology, a private land-grant
research university incorporated in accordance with the laws of the United states of America (“MIT”),
at a price of 29.11 cents per Repurchase Share (“Repurchase Consideration”) (“the Repurchase”).
A Firm Intention Announcement regarding the Repurchase will be released in due course in
compliance with the Takeover Regulations issued in terms of the Companies Act (“Firm Intention
Announcement”), subject to Takeover Regulation Panel (“TRP”) approval.
Subsequent to release of the Finbond interim results for the six months ending 31 August 2023
(expected on or about Friday, 27 October 2023), and subject to the release of the Firm Intention
Announcement and the approval of the TRP and the JSE, a circular will be posted to Finbond
shareholders regarding the Repurchase.
The salient dates and notice of the General Meeting and Repurchase will be published in the Firm
Intention Announcement.
Renewal of cautionary announcement
Finbond Shareholders are advised that the Repurchase, if successfully concluded, may have a material
effect on the price of the company’s securities.
Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company’s
securities until the Firm Intention Announcement is released on SENS.
Responsibility statement
The Board collectively and individually accept full responsibility for the accuracy of the information
given and certify that to the best of their knowledge and belief there are no facts that have been
omitted which would make any statement false or misleading, and that all reasonable enquiries to
ascertain such facts have been made and that this announcement contains all information required
by law and the JSE Listings Requirements.
Pretoria
22 September 2023
Sponsor: Grindrod Bank Limited
Date: 22-09-2023 04:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or 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.
