UNWIND OF EXXARO S EXISTING BEE TRANSACTION, TERMS OF REPLACEMENT BEE TRANSACTION AND CAUTIONARY ANNOUNCEMENT
|
|
- Jeffery Doyle
- 5 years ago
- Views:
Transcription
1 Exxaro Resources Limited (Incorporated in the Republic of South Africa) Registration number: 2000/011076/06 JSE share code: EXX ISIN: ZAE ADR code: EXXAY ( Exxaro or the Company or the Group ) UNWIND OF EXXARO S EXISTING BEE TRANSACTION, TERMS OF REPLACEMENT BEE TRANSACTION AND CAUTIONARY ANNOUNCEMENT 1. BACKGROUND AND INTRODUCTION 1.1. Exxaro was established in November 2006 through the combination of the assets of Kumba Resources Limited ( Kumba Resources ) with Eyesizwe Mining Proprietary Limited ( Eyesizwe Mining ) and the subsequent unbundling of Kumba Iron Ore Limited and the relisting of Kumba Resources and Eyesizwe Mining assets as Exxaro As part of the establishment of Exxaro, Main Street 333 Proprietary Limited ( MS333 ) was created and introduced as the controlling black economic empowerment ( BEE ) shareholder of Exxaro (the Existing BEE Transaction ). MS333 currently owns 50.19% of the issued ordinary shares of Exxaro (the Exxaro Shares ) In terms of the Existing BEE Transaction, certain restrictions were placed on MS333 s ability to dispose of its shareholding in Exxaro (the BEE Restrictions ) up until 28 November 2016 (the Final Date ), including that: MS333 was obliged to own more than 50% of the Exxaro Shares; and direct and indirect shareholders of MS333 undertook to retain their status as historically disadvantaged South Africans, as defined in the Mineral and Petroleum Resources Development Act, 28 of 2002 ( HDSA ) The Existing BEE Transaction was implemented as a ten year structure and the BEE Restrictions expire on the Final Date. After the Final Date, and in terms of the Existing BEE Transaction, MS333 must distribute its shareholding in Exxaro to its shareholders in exchange for each such shareholder s shares inand claims against MS333 (the MS333 Unwind ). The MS333 Unwind must be procured by the shareholders of MS333 as soon as possible after the Final Date. It has been agreed in an implementation agreement (the Implementation Agreement ) that the MS333 Unwind will be procured as described in paragraph On Tuesday, 22 November 2016, the following agreements were entered into in order to coordinate the MS333 Unwind: the Implementation Agreement between Exxaro, MS333 and the direct shareholders of MS333 (the MS333 Shareholders ), setting out: the indicative terms and principles of a replacement BEE transaction (the Replacement BEE Transaction ); the regulation and coordination of the MS333 Unwind, specifically governing the terms of any placement of Exxaro Shares in the market as the result of the MS333 Unwind; and the in-principle terms for the Specific Repurchase (as defined below); a share repurchase implementation agreement (the Repurchase Implementation Agreement ) between Exxaro and MS333, setting out the terms on which Exxaro will propose a scheme of arrangement to its shareholders in terms of section 114 of the Companies Act, 71 of 2008 (the Companies Act ) between Exxaro and MS333 in terms of which Exxaro will repurchase and cancel a certain number of Exxaro Shares to the value of R from MS333 (the Specific Repurchase ) The Implementation Agreement contains the salient terms of the Replacement BEE Transaction and the MS333 Unwind, however both the Replacement BEE Transaction and the MS333 Unwind is subject to the conclusion of detailed transaction agreements. In terms of the Implementation Agreement, the MS333 Unwind will be implemented by no later than three months from the earlier of: i) agreement of the detailed
2 transaction agreements; or ii) 30 April 2017, or such other date as agreed to in writing between Exxaro and MS333. The detailed terms of the Replacement BEE Transaction will be announced once the transaction agreements have been finalised and agreed (the Replacement BEE Transaction Announcement Date ) The Exxaro board of directors (the Exxaro Board ) established an independent board sub-committee (the Independent Board Sub-Committee ) to actively engage with MS333 on the MS333 Unwind, the terms of the Replacement BEE Transaction and the Specific Repurchase. 2. OVERVIEW OF THE TERMS OF THE REPLACEMENT BEE TRANSACTION 2.1. Introduction Exxaro, MS333 and the MS333 Shareholders have agreed high level terms governing the Replacement BEE Transaction in the Implementation Agreement. It is the intention to implement the Replacement BEE Transaction after the Specific Repurchase, partially using the mechanism of the MS333 Unwind to enable direct and indirect shareholders of MS333 to reinvest into the Replacement BEE Transaction structure. While high level terms have been agreed with MS333, detailed transaction agreements required to implement the Replacement BEE Transaction are still to be negotiated and finalised Rationale for the Replacement BEE Transaction Since inception, Exxaro has grown into one of the largest black controlled companies in the South African mining sector. Exxaro is aware of the current uncertainty around the legislative requirements for BEE in the South African mining sector and specifically the uncertainty created by the current court process to determine the legal status of the once empowered, always empowered principle. However, the Independent Board Sub-Committee is of the opinion that Exxaro s empowerment status is a significant part of its strategy and provides a competitive advantage. Remaining empowered is an essential part of Exxaro s strategy to not only maintain sustainable relationships with critical stakeholders and ensure ongoing compliance with specific customer requirements, but also to further the imperative for transformation in South Africa. Accordingly, Exxaro wishes to pursue and implement the Replacement BEE Transaction. Exxaro considers BEE holistically. In addition to other empowerment commitments in terms of the Mining Charter, broad-based BEE includes duly empowering each of the following groupings: HDSA strategic investors (such as the broad-based groupings within the Existing BEE Transaction and the proposed Replacement BEE Transaction); Exxaro employees, who are HDSAs (such as through the Mpower and Mpower 2012 employee share ownership schemes); and communities in the regions where Exxaro operates. Exxaro s Mpower and Mpower 2012 employee share ownership schemes provides for all of the employees of Exxaro, other than those employees that already participate in management share incentive schemes, with equity participation in Exxaro. The Mpower scheme was wound up in 2011 and resulted in a pay-out of over R1 billion to its participants, whereas Mpower 2012 was put in place in 2012 and resulted in each participant being allocated Exxaro Shares to the value of R The majority of Mpower 2012 participants are HDSAs thereby further contributing to Exxaro s empowerment status. In addition to the Replacement BEE Transaction, Exxaro continues to consider the empowerment requirements of all relevant regulations Key terms of the Replacement BEE Transaction Transaction structure and participants Shareholders are referred to the press version of this announcement for a diagram of the shareholding structure of the Replacement BEE Transaction after its implementation. A new special purpose vehicle ( NewBEECo ) will be incorporated for the purpose of being the new empowerment vehicle for Exxaro. It is the intention that NewBEECo will ultimately own 30% (the Targeted BEE Percentage ) of the Exxaro Shares. All of the existing direct and indirect shareholders of MS333 (excluding the Industrial Development Corporation (the IDC ) (the Reinvesting MS333 Shareholders ) will be invited to participate in the
3 Replacement BEE Transaction by reinvesting all or some of the Exxaro Shares received as part of the MS333 Unwind (the MS333 Reinvestment ). The IDC, which currently owns approximately 15% of the ordinary shares of MS333, has separately agreed to reinvest in the Replacement BEE Transaction by investing some of the Exxaro Shares received as part of the MS333 Unwind (the IDC Reinvestment ). NewBEECo will have two shareholders, being a newly formed special purpose vehicle to house the MS333 Reinvestment ( BEE SPV ) and the IDC. BEE SPV will own 75.8% and the IDC will own 24.2% of NewBEECo. Exxaro will invest equity into BEE SPV (the Exxaro Equity Investment ) in order to provide funding so that Reinvesting MS333 Shareholders have outright control of NewBEECo, and the Targeted BEE Percentage is achieved. The BEE SPV shareholders will be Reinvesting MS333 Shareholders and Exxaro, with Reinvesting MS333 Shareholders owning 62.3% and Exxaro owning 37.7% of BEE SPV. In addition to the equity funding introduced into the Replacement BEE Transaction through the MS333 Reinvestment, the IDC Reinvestment and the Exxaro Equity Investment, Exxaro will provide facilitation, in a form still to be agreed, to the Replacement BEE Transaction (the Exxaro Facilitation ). The balance of funds required by NewBEECo to invest into Exxaro pursuant to the Replacement BEE Transaction will be raised through third party bank funding. The IDC has also agreed to provide a debt guarantee in favour of the third party funders up to a maximum value of the present value of R (the IDC Guarantee ) over the term of the Replacement BEE Transaction Detailed terms of the Funding of the Replacement BEE Transaction The detailed terms of the Replacement BEE Transaction will be communicated to the market on the Replacement BEE Transaction Announcement Date. The Replacement BEE Transaction value will only be determined on the implementation of the Replacement BEE Transaction, which is expected to be towards the end of H1 2017, and will be calculated as the Targeted BEE Percentage multiplied by the market valuation of Exxaro at the date of implementation of the Replacement BEE Transaction ( Replacement BEE Transaction Value ). The Replacement BEE Transaction Value will be funded as follows: Funding Source: % of Replacement BEE Transaction Value Exxaro Facilitation % Existing MS333 shareholders: 27.2% - MS333 Reinvestment % - IDC Reinvestment % New cash funding: 50.2% - Exxaro Equity Investment % - New third party bank funding % Total Funding 100.0% Notes: 1. The Exxaro Facilitation will be limited to the lesser of 22.6% of the Replacement BEE Transaction and 6.8% of the Exxaro market value after implementation of the Replacement BEE Transaction. 2. Should the MS333 Reinvestment be less than 15.8% of the Replacement BEE Transaction Value, Exxaro will have the option not to implement the Replacement BEE Transaction. Should the MS333 Reinvestment be more than 15.8% of the Replacement BEE Transaction Value then the new third party bank funding will be reduced accordingly to maintain the Replacement BEE Transaction Value. 3. The IDC Reinvestment will be limited to a maximum value of 70% of the IDC s current unencumbered investment into MS333. Should the IDC Reinvestment be more than 11.4% of the Replacement BEE Transaction Value, the new third party bank funding will be reduced accordingly to maintain the Replacement BEE Transaction Value.
4 4. Exxaro will subscribe for shares in BEE SPV through the Exxaro Equity Investment, which subscription proceeds will be used to subscribe for shares in NewBEECo and ultimately Exxaro Shares. 5. The IDC has indicated its willingness to provide a partial debt guarantee in favour of the new third party funders, guaranteeing the obligations of NewBEECo, with a maximum value of the present value of R over the term of the Replacement BEE Transaction Detailed transaction mechanics Exxaro will subscribe for ordinary shares in BEE SPV pursuant to the Exxaro Equity Investment. This subscription will result in Exxaro holding 37.7% of the issued ordinary shares in BEE SPV The Reinvesting MS333 Shareholders will subscribe for ordinary shares in BEE SPV. This subscription will result in the Reinvesting MS333 Shareholders collectively holding 62.3% of the issued ordinary shares of BEE SPV BEE SPV will use the proceeds of the subscriptions referred to in paragraphs and above to subscribe for ordinary shares in NewBEECo. This subscription will result in BEE SPV holding 75.8% of the issued ordinary shares of NewBEECo (after the implementation of the IDC Reinvestment contemplated in paragraph below) The IDC will subscribe for ordinary shares in NewBEECo. This subscription will result in the IDC holding 24.2% of the issued ordinary shares of NewBEECo NewBEECo will subscribe for Exxaro Shares which will result in NewBEECo holding the Targeted BEE Percentage of the Exxaro Shares All the shareholding percentages are fixed in order for the Exxaro Facilitation to benefit Reinvesting MS333 Shareholders and the IDC Term and liquidity mechanisms The term of the Replacement BEE Transaction will be seven years. During this term restrictions will be placed on the NewBEECo shareholders ability to dispose of their shares in the Replacement BEE Transaction structure. It is envisaged that there will be certain mechanisms to create interim liquidity for NewBEECo shareholders. These mechanisms will be structured so as not to alter Exxaro s empowerment status in any way Governance of the Replacement BEE Transaction MS333 will be able to nominate representatives of NewBEECo (the NewBEECo Representatives ) to represent the Reinvesting MS333 Shareholders, BEE SPV and NewBEECo in negotiating the final terms of the Replacement BEE Transaction. The detailed terms of the Replacement BEE Transaction will be negotiated between the Independent Board Sub-Committee and the NewBEECo Representatives. NewBEECo may remove and replace any NewBEECo Representatives after its incorporation. Exxaro and the IDC will be able to rely on the engagements with the NewBEECo Representatives in relation to the abovementioned negotiations. Exxaro will be represented by the Independent Board Sub-Committee, which will report to the Exxaro Board Conditions for the Replacement BEE Transaction to be implemented The implementation of the Replacement BEE Transaction will be subject to the following conditions precedent: the Replacement BEE Transaction resulting in NewBEECo owning the Targeted BEE Percentage of Exxaro Shares; the Independent Board Sub-Committee being satisfied that the shareholder composition of the Replacement BEE Transaction is sufficiently broad-based; the detailed transaction agreements being duly executed by the parties thereto and becoming unconditional in accordance with their terms;
5 the relevant funding agreements required to partially capitalise NewBEECo being duly executed by the parties thereto and becoming unconditional in accordance with their terms; key indirect shareholders of MS333 irrevocably committing to reinvesting pursuant to the MS333 Reinvestment; the Independent Board Sub-Committee passing resolutions in relation to the Replacement BEE Transaction that, as a related party transaction in terms of the JSE Listings Requirements (the Listings Requirements ), the issuing of shares pursuant to the Replacement BEE Transaction Subscription is fair insofar as the shareholders of Exxaro are concerned, and that the Exxaro Board has been so advised by an independent expert acceptable to the JSE; the resolution will also include that the issuing price of the shares is adequate; the ordinary shareholders of Exxaro (excluding MS333) passing the following resolutions in relation to the Replacement BEE Transaction: an ordinary resolution of independent shareholders required in terms of paragraph 10.4(e) of the Listings Requirements to approve all elements of the Replacement BEE Transaction that qualify as a related party transaction in terms of the Listings Requirements; and a special resolution of shareholders required in terms of clause 3.1(4) of Exxaro s memorandum of incorporation to approve the issue of new Exxaro Shares to NewBEECo; and a prospectus in terms of the Companies Act, being registered in respect of the shares in NewBEECo, to be offered to the Reinvesting MS333 Shareholders. 3. MS333 UNWIND AND REGULATED PLACEMENT 3.1. Introduction MS333 will not be retained as the empowerment vehicle for the Replacement BEE Transaction. The MS333 Unwind will therefore apply to all the Exxaro Shares owned by MS333 after the Specific Repurchase. The terms of the Existing BEE Transaction allows MS333 shareholders to determine the fiscally most efficient manner to effect the MS333 Unwind. Detailed terms for the MS333 Unwind are still to be negotiated and finalised. The detailed terms of the MS333 Unwind will be announced to the market once the detailed transaction agreements have been finalised and agreed. In terms of the Implementation Agreement, it was agreed that the MS333 Unwind will be implemented by no later than three months from the earlier of: i) agreement of the detailed transaction agreements; or ii) 30 April 2017, or such other date as agreed to in writing between Exxaro and MS333. It is anticipated that, as part of the MS333 Unwind, the indirect shareholders of MS333 will be entitled to elect whether to: reinvest in the Replacement BEE Transaction (pursuant to the MS333 Reinvestment); divest of their (indirect) interest in Exxaro and receive a cash consideration; and / or retain shares in Exxaro outside of the structure of the Replacement BEE Transaction Exxaro recognises its responsibility to all Exxaro shareholders to maintain an orderly market in Exxaro Shares, particularly in respect of the MS333 Unwind, which could result in a large number of Exxaro Shares being placed in the market. As such Exxaro will continue to explore all options to ensure a coordinated exit of MS333 s shareholding in Exxaro upon the MS333 Unwind, which may include market placements, sales to third parties or further share repurchases, subject to the requisite approvals MS333 indirect shareholder election As described above, in order to enable the MS333 Unwind and Replacement BEE Transaction, the indirect shareholders of MS333 will be entitled to elect whether to: participate in the Replacement BEE Transaction and reinvesting Exxaro Shares into the Replacement BEE Transaction (as part of the MS333 Reinvestment); or not to participate in the Replacement BEE transaction and therefore to either divest of their (indirect) Exxaro Shares and receive a cash consideration, or to retain Exxaro Shares outside the structure of the Replacement BEE Transaction; or
6 a combination of the two options above Regulated placement and coordination The Implementation Agreement governs the regulated sale of Exxaro Shares by MS333 or any direct or indirect MS333 shareholder pursuant to the MS333 Unwind. Due to the potential for a negative impact on shareholder value for all Exxaro shareholders (including MS333) if a large number of Exxaro Shares were to come onto the market simultaneously, the Implementation Agreement provides that MS333 and all its direct shareholders are, and will procure that all indirect shareholders are, bound by the following: all sales of Exxaro Shares by MS333, the IDC and / or any direct or indirect shareholder of MS333, will be implemented in accordance with the Implementation Agreement; in order to maintain an orderly market in Exxaro Shares, Exxaro and MS333 will establish a committee which will be comprised of representatives of Exxaro and MS333 (the Joint Advisory Committee ) which shall be tasked with considering the most practical and efficient means of disposing of the Exxaro Shares of shareholders who have elected to divest all or some of their Exxaro Shares. The Joint Advisory Committee will consider and decide on the preferred method for the disposal of their Exxaro Shares and will act as agent of the relevant shareholders in relation to all decisions of these shareholders for the sale of their Exxaro Shares. The Joint Advisory Committee will consist of six members, nominated equally by Exxaro and MS333, who shall be entitled to replace their nominees on the Joint Advisory Committee at any time; all MS333 direct and indirect shareholders who elect to receive Exxaro Shares and become direct holders of ordinary shares in Exxaro as a result of the implementation of the MS333 Unwind, will be restricted from disposing of their Exxaro Shares for a period to be determined by the Joint Advisory Committee, acting reasonably. After the restricted period determined by the Joint Advisory Committee terminates, such shareholders will be free to deal with their Exxaro Shares as they see fit. 4. THE SPECIFIC REPURCHASE 4.1. Overview of the Specific Repurchase In terms of the Repurchase Implementation Agreement, Exxaro has undertaken to repurchase and cancel a certain number,being more than 5%, of Exxaro Shares to the value of R from MS333 (the Repurchase Scheme ). As such, the Specific Repurchase is to be effected in accordance with, inter alia, section 114 of the Companies Act and will require the passing of a special resolution of Exxaro shareholders, the preparation of an independent fair and reasonable opinion on the terms of the Repurchase Scheme and giving rise to shareholders appraisal rights in terms of section 115 of the Companies Act Rationale for the Specific Repurchase The arrangements regulating the Existing BEE Transaction will come to an end on the Final Date. As a result of this termination, it is anticipated that a large number of Exxaro Shares could be placed in the market by MS333. In addition, the funding procured by MS333 in order to finance its participation in the Existing BEE Transaction matures in the first quarter of The implementation of the Repurchase Scheme is intended to contribute to the orderly disposal by MS333 of its Exxaro Shares, and would reduce the potential for an Exxaro Share overhang in the market. Holistically, the Repurchase Scheme results in a superior outcome for Exxaro by offering greater flexibility, a lesser impact on the market price of Exxaro s shares as well as less management commitment, given that any potential market placement will be reduced by the Specific Repurchase. Furthermore, Exxaro intends to enter into the Replacement BEE Transaction in 2017 to achieve its desired level of HDSA ownership. The Replacement BEE Transaction will necessitate the issue of new Exxaro Shares which would be dilutive for all Exxaro Shareholders. Therefore the Repurchase Scheme is also an anti-dilutive measure in anticipation of the Replacement BEE Transaction that would be in the best interest of Exxaro and its shareholders Terms of the Specific Repurchase The consideration to be offered by MS333 in terms of the Specific Repurchase will be a cash consideration per Exxaro share at a price equal to an 8% discount to the 20-day weighted average traded price
7 ( WATP ) per Exxaro Share repurchased as at the last business day preceding the general meeting at which the Specific Repurchase is to be considered (the General Meeting ). MS333 will utilise the proceeds from the Specific Repurchase to settle its funding liabilities, which funding liabilities are expected to total R , as at 31 January 2017 ( MS333 Funding Liabilities ). R of the MS333 Funding Liabilities represent a loan from Exxaro which will be repaid from the proceeds of the Specific Repurchase. The net cash outflow from Exxaro as a result of the Specific Repurchase will therefore be R The Specific Repurchase will be funded from a combination of internal cash resources and the contributed tax capital of Exxaro. The Exxaro Shares repurchased will immediately be cancelled and there is thus no effect on Exxaro s treasury shares as a result of the Specific Repurchase Related Party Considerations MS333 is a material shareholder of Exxaro, and is therefore considered a related party under paragraph 10.1(b)(i) of the Listings Requirements. In terms of paragraph 5.69(b) of the Listings Requirements, a special resolution must be passed by Exxaro shareholders in order to implement the Specific Repurchase. The votes of MS333 and its associates will not be taken into account in determining whether a quorum of Exxaro shareholders is present at the General Meeting, nor will it be taken into account in determining the results of the voting at the General Meeting Specific Repurchase Conditions Precedent The Specific Repurchase is subject to fulfillment of the following conditions precedent: an independent expert preparing and issuing a favourable report stating that the Specific Repurchase is fair and reasonable to Exxaro shareholders, in accordance with section 114(2) of the Companies Act and paragraph 5.69(e) of the Listings Requirements; the Independent Board Sub-Committee recommending to Exxaro shareholders that they vote in favour of the Specific Repurchase; the passing of an Exxaro Board resolution that Exxaro will meet the solvency and liquidity test in terms of section 4 of the Companies Act immediately after implementing the Specific Repurchase; the passing of an ordinary resolution of Exxaro shareholders (excluding MS333) required in terms of paragraph 10.4(e) of the Listings Requirements, to approve the Specific Repurchase to the extent that it qualifies as a related party transaction in terms of the Listings Requirements; the passing of a special resolution of Exxaro shareholders (excluding MS333), approving the Specific Repurchase, as required by section 115(2) of the Companies Act, read with section 114 of the Companies Act and paragraph 5.69(b) of the Listings Requirements including: to the extent required, the approval of the implementation of such resolution by the court; and if applicable, Exxaro not treating such resolution as a nullity, as contemplated in section 115(5)(b) of the Companies Act; within 30 business days following the General Meeting at which the Specific Repurchase is approved, Exxaro shareholders exercise their rights in terms of section 164 of the Companies Act, by giving valid demands in terms of section 164(7) of the Companies Act, in respect of no more than 10% of the issued Exxaro shares. If Exxaro shareholders give notice objecting to the Specific Repurchase as contemplated in section 164(3) of the Companies Act, or vote against the resolution to approve the Specific Repurchase in respect of no more than 10% of the issued shares in Exxaro, this condition will be deemed to have been fulfilled at the time of the passing of the resolution to approve the Specific Repurchase; and the issuing of a compliance certificate by the Takeover Regulation Panel ( TRP ) in relation to the Specific Repurchase, in accordance with section 119(4)(b) of the Companies Act Posting of circular and notice of General Meeting of Exxaro shareholders The circular to Exxaro shareholders containing the details of the Specific Repurchase, incorporating a notice of General Meeting and a form of proxy will be posted on Tuesday, 29 November 2016 (the Circular ). Exxaro shareholders are advised that the Circular is immediately available on Exxaro s website: The General Meeting of Exxaro shareholders will be convened, in terms of the notice of
8 General Meeting forming part of the Circular, to vote on the Specific Repurchase. The General Meeting will be held at Exxaro Corporate Centre, Roger Dyason Road, Pretoria West, at 10h00 on Friday,30 December Salient dates and times relating to the Specific Repurchase Set out below are the salient dates and times relating to the approval and implementation of the Specific Repurchase: 2016 Record date to determine which Exxaro shareholders are eligible to receive the Circular and notice of General Meeting on: Circular posted to Exxaro shareholders and notice convening the General Meeting published on SENS on: Notice convening the General Meeting published in the South African press on: Last day to trade in order to be eligible to attend and vote at the General Meeting on: Record date in order to vote at the General Meeting on: Last day to lodge forms of proxy by 10h00 on: General Meeting to be held at 10h00 at Exxaro Corporate Centre, Roger Dyason Road, Pretoria West on: Results of the General Meeting published on SENS on: Friday,18 November Tuesday, 29 November Tuesday, 29 November Tuesday, 20 December Friday, 23 December Wednesday, 28 December Friday, 30 December Friday, 30 December 2017 Published in the South African press on: Last day for Exxaro minority shareholders who voted against the repurchase to require Exxaro to seek court approval for the Repurchase Scheme in terms of section 115(3)(a) of the Companies Act, on: Last day to send notice of adoption of special resolutions to dissenting shareholders in accordance of section 164 of the Companies Act: Last day for Exxaro minority shareholders who voted against the Repurchase Scheme to apply to court for leave to apply for a review of the Repurchase Scheme in terms of section 115(3)(b) of the Companies Act: Compliance certificate expected to be received from the TRP: Finalisation announcement (when repurchase becomes unconditional) expected to be released on SENS: Finalisation announcement published in the press: Cancellation and delisting of shares on or about: Tuesday, 3 January Friday, 6 January Friday, 13 January Friday, 13 January Monday, 16 January Tuesday, 17 January Tuesday, 17 January Friday, 20 January Notes: 1. All times shown above are South African local time. 2. All dates and times in respect of the Specific Repurchase are subject to change. The above dates have been determined based on certain assumptions regarding the Specific Repurchase. If the relevant dates in respect of the Specific Repurchase change and the dates above are impacted a change will be released on SENS and published in the press.
9 5. INVESTOR CALL A dial-in teleconference call on the details of this announcement will be held on Thursday, 24 November 2016 at 16h30 South African time (Internet broadcast: Dial-in teleconference numbers Republic of South Africa toll-free: Johannesburg: / UK toll-free: USA and Canada toll-free: Conference ID: Exxaro BEE Transaction teleconference Playback A playback will be available until 30 November To access the playback, dial one of the following numbers using the playback code 54777#: South Africa: UK (Toll-free): USA & Canada: Australia (Toll-free): CAUTIONARY ANNOUNCEMENT Exxaro shareholders are advised that the Company has entered into the Implementation Agreement that will govern negotiations relating to the MS333 Unwind and the Replacement BEE Transaction which, if successfully implemented, may have a material effect on the Company s securities. Accordingly, Exxaro shareholders are advised to exercise caution when dealing in the Company s securities until a detailed announcement relating to the MS333 Unwind and Replacement BEE Transaction is made. CH Wessels Group Company Secretary Pretoria 22 November 2016 Financial advisor and transaction sponsor to Exxaro Rand Merchant Bank, a division of FirstRand Bank Limited Legal advisor to Exxaro Norton Rose Fulbright South Africa Company sponsor to Exxaro Absa Bank Limited, acting through its corporate and investment bank division Tax advisor to Exxaro Cliffe Dekker Hofmeyr Incorporated Financial advisor to MS333 Tamela Legal advisor to MS333 Fasken Martineau Independent Expert KPMG Services Proprietary Limited
SA Fire House Limited (Incorporated in the Republic of South Africa) Registration number 1957/003350/06. ( SA Fire House )
Zurich Insurance Company South Africa Limited (Incorporated in the Republic of South Africa) Registration number 1965/006764/06 ISIN: ZAE000094496 JSE Code: ZSA ( Zurich or the Company ) SA Fire House
More informationDETAILED TERMS ANNOUNCEMENT REGARDING THE UNWINDING OF MTN ZAKHELE IN NOVEMBER 2016
MTN Zakhele (RF) Limited (Incorporated in South Africa) (Registration number 2010/004693/06) Share code: MTNZBE ISIN: ZAE000208526 ( MTN Zakhele or MTNZ or the Company ) DETAILED TERMS ANNOUNCEMENT REGARDING
More informationJOINT ANNOUNCEMENT - UPDATE IN RESPECT OF THE FIRM INTENTION BY BIDVEST, POSTING OF THE CIRCULAR AND WITHDRAWAL OF THE CAUTIONARY
Mvelaserve Limited (Incorporated in the Republic of South Africa) (Registration number 1999/003610/06) JSE Share Code: MVS ISIN: ZAE000151353 ( Mvelaserve ) The Bidvest Group Limited Incorporated in the
More information1. Introduction. 2. Notice of Scheme Meeting
HOLDSPORT LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/022562/06) Share code: HSP ISIN: ZAE000157046 ("Holdsport") LONG4LIFE LIMITED (Incorporated in the Republic of
More informationPosting of Transaction Documents and the Distell Incentive Plan Circular, and notices of the Distell Scheme Meeting and the Distell General Meeting
Distell Group Limited Incorporated in the Republic of South Africa Registration Number: 1988/005808/06 ISIN: ZAE000028668 Share Code: DST ( Distell" or "the Company") Posting of Transaction Documents and
More informationBROAD-BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION ( B-BBEE TRANSACTION ) AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
PETMIN LIMITED Incorporated in the Republic of South Africa Registration Number 1972/001062/06 Share Code JSE: PET ISIN: ZAE000076014 ('Petmin' or 'the Company') BROAD-BASED BLACK ECONOMIC EMPOWERMENT
More informationAcucap Properties Limited. Growthpoint Properties Limited. Approved as a REIT by the JSE. Approved as a REIT by the JSE
Acucap Properties Limited Approved as a REIT by the JSE (Incorporated in the Republic of South Africa) (Registration number 2001/021725/06) Growthpoint Properties Limited Approved as a REIT by the JSE
More informationAssore Limited (Incorporated in the Republic of South Africa) (Registration number 1950/037394/06 Share code: ASR ISIN: ZAE ( Assore )
Assore Limited (Incorporated in the Republic of South Africa) (Registration number 1950/037394/06 Share code: ASR ISIN: ZAE000146932 ( Assore ) Shanduka Resources (Proprietary) Limited (Incorporated in
More informationMTN Group Limited (Incorporated in the Republic of South Africa) Registration number 1994/009584/06 Share code: MTN ISIN: ZAE
MTN Group Limited (Incorporated in the Republic of South Africa) Registration number 1994/009584/06 Share code: MTN ISIN: ZAE000042164 MTN ANNOUNCEMENT RELATING TO PROPOSED R8.1 BILLION BROAD-BASED BLACK
More informationPOSTING OF CIRCULAR, NOTICES OF SCHEME MEETING AND GENERAL MEETING AND IMPORTANT DATES AND TIMES
TIMES MEDIA GROUP LIMITED (Incorporated in the Republic of South Africa) Registration number 2008/009392/06 Share code: TMG ISIN: ZAE 000169272 ("TMG") BLACKSTAR GROUP SE Incorporated in Malta (Company
More informationAn overview of Adcorp s BBBEE Partners is set out below:
Adcorp Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1974/001804/06) Share Code: ADR ISIN: ZAE000000139 ("Adcorp" or the "Company") THE INTRODUCTION OF A NEW TEN
More informationTEXTON PROPERTY FUND LIMITED Incorporated in the Republic of South Africa (Registration number 2005/019302/06)
TEXTON PROPERTY FUND LIMITED Incorporated in the Republic of South Africa (Registration number 2005/019302/06) Share code: TEX ISIN: ZAE000190542 Approved as a REIT by the JSE ( Texton or the Company )
More informationVODACOM GROUP'S PROPOSED NEW BROAD-BASED BLACK ECONOMIC EMPOWERMENT OWNERSHIP TRANSACTION
Vodacom Group Limited (Incorporated in the Republic of South Africa) (Registration number 1993/005461/06) ISIN: ZAE000132577 Share code: VOD ISIN: US92858D2009 ADR code: VDMCY ("Vodacom Group") VODACOM
More informationAgriGroupe Holdings Proprietary Limited (Incorporated in the Republic of South Africa) (Registration number 2013/013161/07) ( AgriGroupe )
AgriGroupe Holdings Proprietary Limited (Incorporated in the Republic of South Africa) (Registration number 2013/013161/07) ( AgriGroupe ) AFGRI Limited (Incorporated in the Republic of South Africa) (Registration
More informationSÉCHÉ ENVIRONNEMENT S.A. (Incorporated in France) (Registration number ) ("Séché Environnement")
INTERWASTE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/037223/06) JSE code: IWE ISN: ZAE000097903 ("Interwaste") SÉCHÉ ENVIRONNEMENT S.A. (Incorporated in
More information1. TSB Acquisition Introduction
RCL Foods Limited (Incorporated in the Republic of South Africa) (Registration number 1966/004972/06) Share code: RCL ISIN: ZAE000179438 ( RCL Foods or the Company ) PROPOSED ACQUISITION BY RCL FOODS OF
More informationThe parties have agreed the following key proposed BEE transaction parameters, which will be determined on the pricing date:
YeboYethu (RF) Limited (Incorporated in the Republic of South Africa) (Registration number: 2008/014734/06) ISIN: ZAE000218483 Share code: YYLBEE ("YeboYethu") ANNOUNCEMENT RELATING TO YEBOYETHU'S PARTICIPATION
More informationAnnouncement relating to the joint circular to Ceramic shareholders and notice of Ceramic general meeting
ITALTILE LIMITED (Incorporated in the Republic of South Africa) (Registration number 1955/000558/06) ISIN: ZAE000099123 JSE Share Code: ITE ( Italtile ) CERAMIC INDUSTRIES LIMITED (Incorporated in the
More informationDETAILED TERMS OF PPC S TOP-UP BLACK ECONOMIC EMPOWERMENT TRANSACTION AND WITHDRAWAL OF CAUTIONARY
PPC Ltd (Incorporated in the Republic of South Africa) (Company registration number: 1892/000667/06) JSE and ZSE Code: PPC ISIN: ZAE000170049 ("PPC" or the "Company") DETAILED TERMS OF PPC S TOP-UP BLACK
More informationNortham has concluded a fully funded R6.6 billion ten year secured Broad Based Black Economic
NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) Share code: NHM Debt issuer code: NHMI ISIN code: ZAE000030912 ( Northam or Company ) NORTHAM
More informationTermination of the existing Adcock BEE transaction, implementation of a new BEE transaction and withdrawal of cautionary announcement
Adcock Ingram Holdings Limited Incorporated in the Republic of South Africa (Registration number 2007/016236/06) Share code: AIP ISIN: ZAE000123436 ( Adcock or the Company ) Termination of the existing
More informationCircular to Kumba Shareholders
Circular to Kumba Shareholders regarding: KUMBA IRON ORE LIM ITED A member of the Anglo American plc group Incorporated in the Republic of South Africa Registration number: 2005/015852/06 Share code: KIO
More informationCircular to Shareholders regarding:
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 10 of this Circular apply throughout this Circular, including these cover pages (unless
More informationSHAREHOLDER UPDATE: EOH STRATEGY, STRATEGIC PARTNERSHIP WITH LEBASHE, INCLUDING
EOH HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 1998/014669/06) Share code: EOH ISIN: ZAE000071072 ( EOH or the Company ) SHAREHOLDER UPDATE: EOH STRATEGY, STRATEGIC
More informationDetails of the results of the voting are as follows:
The Bidvest Group Limited (Incorporated in Republic South Africa) (Registration number 1946/021180/06) Share code: BVT ISIN: ZAE000117321 ( Bidvest or Company or Group ) ANNOUNCEMENT RELATING TO: THE RESULTS
More informationStellar Capital Partners Limited - Terms Announcement Re Acquisition Additional Interest In Tellumat And Friedshelf
Stellar Capital Partners Limited - Terms Announcement Re Acquisition Additional Interest In Tellumat And Friedshelf Release Date: 30/11/2015 17:30:00 Code(s): SCP Terms announcement re acquisition additional
More informationTHIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 11 of this Circular have, where appropriate, been used on this cover page. Action
More informationANNOUNCEMENT REGARDING THE INTRODUCTION OF A STRATEGIC EMPOWERMENT PARTNER TO ALEXANDER FORBES AFRICAN OPERATIONS AND WITHDRAWAL OF CAUTIONARY
ALEXANDER FORBES GROUP HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number: 2006/025226/06) JSE Share Code: AFH ISIN: ZAE000191516 ( Alexander Forbes or the Company ) ANNOUNCEMENT
More informationThe salient terms of the respective transactions, which transactions will be implemented consecutively, are set out below:
The Tongaat-Hulett Group Limited (Incorporated in the Republic of South Africa) (Registration number: 1892/000610/06) (Share code: TNT) (ISIN: ZAE000007449) ( THG ) or ( the Company ) Final terms of the
More informationDETAILED TERMS ANNOUNCEMENT RELATING TO ALEXANDER FORBES PROPOSED 2
Alexander Forbes Group Holdings Limited Incorporated in the Republic of South Africa (Registration number 2006/025226/06) JSE share code: AFH ISIN: ZAE000191516 ( Alexander Forbes or the Company or Alexander
More informationCIRCULAR TO DATACENTRIX SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 11 of this Circular apply throughout this Circular. If you are in any doubt as to
More informationCONTENTS. Page. Inside front cover CORPORATE INFORMATION AND ADVISORS ACTION REQUIRED BY SHAREHOLDERS 3 IMPORTANT DATES AND TIMES 6
CONTENTS Page CORPORATE INFORMATION AND ADVISORS Inside front cover ACTION REQUIRED BY SHAREHOLDERS 3 IMPORTANT DATES AND TIMES 6 DEFINITIONS AND INTERPRETATIONS 8 CIRCULAR TO SHAREHOLDERS 1. INTRODUCTION
More informationCIRCULAR TO DISTELL SHAREHOLDERS
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 8 of this Circular apply to this entire document, including the cover page, except
More informationUPDATE ANNOUNCEMENT REGARDING THE CORPORATE RESTRUCTURING, SPECIAL DIVIDEND AND CAPITAL RAISE
Invicta Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1966/002182/06) Ordinary Share code: IVT ISIN code: ZAE000029773 Preference Share code: IVTP ISIN: ZAE000173399
More informationCIRCULAR TO CULLINAN PREFERENCE SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 8 of this Circular apply to the entire Circular, including, where appropriate, this
More informationDECLARATION ANNOUNCEMENT IN RESPECT OF THE ITALTILE PARTIALLY UNDERWRITTEN RIGHTS OFFER
ITALTILE LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1955/000558/06) Share code: ITE ISIN: ZAE000099123 ( Italtile or the Company ) DECLARATION ANNOUNCEMENT IN RESPECT
More informationEXXARO ACQUIRES TOTAL COAL SOUTH AFRICA PROPRIETARY LIMITED 1. INTRODUCTION
EXXARO RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2000/011076/06) ISIN: ZAE000084992 JSE Share Code: EXX ADR Code: EXXAY ( Exxaro or the Company ) EXXARO ACQUIRES
More informationACTION REQUIRED BY ARCELORMITTAL SHAREHOLDERS
T2CP08818 RMB/ARCELORMITTAL Circular Page 1 Proof 4 ACTION REQUIRED BY ARCELORMITTAL SHAREHOLDERS The definitions on pages 6 to 9 of this document apply mutatis mutandis to this section. If you are in
More informationTUGENDHAFT WAPNICK BANCHETTI AND PARTNERS
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The interpretations and definitions commencing on page 9 of this circular have, where appropriate, been used on this cover page. If you
More informationCIRCULAR TO HCI SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 5 apply throughout this Circular including this front cover. If you are in any doubt
More informationFIRM INTENTION BY MILCO TO ACQUIRE ALL THE ISSUED SHARES OF CLOVER AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Clover Industries Limited (Incorporated in the Republic of South Africa) (Registration number 2003/030429/06) JSE ordinary share code: CLR NSX ordinary share code: CLN ISIN: ZAE000152377 ( Clover or the
More informationAFGRI Limited (Incorporated in the Republic of South Africa) Registration Number: 1995/004030/06 JSE share code: AFR ISIN: ZAE ( AFGRI )
AFGRI Limited (Incorporated in the Republic of South Africa) Registration Number: 1995/004030/06 JSE share code: AFR ISIN: ZAE000040549 ( AFGRI ) THE UNWINDING OF AND EXTENSION TO THE BROAD BASED BLACK
More informationAssociated British Foods plc (Incorporated in England) (Registration number ) Share Code: ABF ISIN: GB ( ABF )
Illovo Sugar Limited (Incorporated in the Republic of South Africa) (Registration number 1906/000622/06) Share Code: ILV ISIN: ZAE000083846 ("Illovo" or the Company ) Associated British Foods plc (Incorporated
More informationTHIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 4 of this circular apply throughout this circular, including this front cover. Action
More informationCIRCULAR TO DAWN SHAREHOLDERS
THIS COMBINED CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 8 of this Circular have, where appropriate, been used on this cover page.
More informationDECLARATION OF INFORMATION RELATING TO A PROPOSED RENOUNCEABLE RIGHTS OFFER OF APPROXIMATELY U.S.$1.0 BILLION
Sibanye Gold Limited Incorporated in the Republic of South Africa Registration number 2002/031431/06 Share code: SGL ISIN ZAE000173951 Issuer code: SGL ( Sibanye or the Company or the Group ) NOT FOR RELEASE,
More information1. INTRODUCTION 2. UPDATE ON THE AGROKOR ACQUISITION AND CIRCULAR
TOWER PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2012/066457/06) JSE share code: TWR ISIN: ZAE000179040 (Approved as a REIT by the JSE) ( or the company )
More informationThis document is divided into three main sections.
This document is divided into three main sections. Section I The first section contains general and introductory information providing the salient features of the scheme and the conditional approvals sought
More informationBSI Steel Limited THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 10 of this Circular apply throughout this Circular, including these cover pages (unless
More informationArrowhead Properties Limited ( Arrowhead )
Arrowhead Properties Limited ( Arrowhead ) FIRM INTENTION BY ARROWHEAD TO ACQUIRE THE REMAINDER OF VIVIDEND INCOME FUND LIMTED Tuesday, 1 April 2014. Arrowhead Properties Limited (Arrowhead), the JSE-listed
More informationSteinhoff Africa Retail Limited. (Previously K (South Africa) Proprietary Limited) (Incorporated in the Republic of South Africa)
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
More informationInvestment bank Sponsor to Clicks Legal advisor. Reporting accountants and auditors Independent Expert Transfer secretaries
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions on pages 5 to 10 of this document apply throughout this document. If you are in any doubt as to the action you should take,
More informationDECLARATION ANNOUNCEMENT IN RESPECT OF THE SYGNIA RIGHTS OFFER
SYGNIA LIMITED (Incorporated in the Republic of South Africa) (Registration number 2007/025416/06) Share code on the JSE: SYG ISIN: ZAE000208815 ("Sygnia") DECLARATION ANNOUNCEMENT IN RESPECT OF THE SYGNIA
More informationDECLARATION DATA ANNOUNCEMENT AND TERMS OF THE BASIL READ PARTIALLY UNDERWRITTEN RENOUNCEABLE RIGHTS OFFER
BASIL READ HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 1984/007758/06) (Basil Read or the Company) ISIN: ZAE000029781 Share code: BSR NOT FOR DISTRIBUTION TO ANY
More informationCIRCULAR TO RAC ORDINARY AND PARTICIPATING PREFERENCE SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions on pages 6 and 7 of this Circular apply throughout this Circular including this cover page. If you are in any doubt as to
More informationNOTICE OF ANNUAL GENERAL MEETING OF BLUE LABEL SHAREHOLDERS
Blue Label Telecoms Limited (Incorporated in the Republic of South Africa) (Registration number 2006/022679/06) Share code: BLU ISIN: ZAE000109088 ( Blue Label or the Company ) NOTICE OF ANNUAL GENERAL
More informationCIRCULAR TO REMGRO SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 4 of this Circular apply to this cover page. Remgro Limited (Incorporated in the
More informationCIRCULAR TO ASSORE ORDINARY SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 5 of this circular apply, mutatis mutandis, throughout this document including this
More informationFINALISATION ANNOUNCEMENT IN RELATION TO THE UNBUNDLING OF MOTUS AND NAME CHANGE OF IMPERIAL HOLDINGS
Imperial Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1946/021048/06) Share code: IPL ISIN: ZAE000067211 ( Imperial Holdings or the Company ) FINALISATION ANNOUNCEMENT
More informationCircular to Hulamin Shareholders
The definitions and interpretation commencing on page 7 of this Circular apply to this Circular including this cover page. Hulamin Limited (Incorporated in the Republic of South Africa) (Registration number
More informationA) PROPOSED DIVESTMENT OF SHAREHOLDINGS IN SUNWEST AND WORCESTER
GRAND PARADE INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/003548/06) Share code: GPL ISIN: ZAE000119814 ( GPI or the Company ) DETAILED TERMS ANNOUNCEMENT
More informationDECLARATION AND FINALISATION ANNOUNCEMENT FOR THE CASH DISTRIBUTION WITH THE ELECTION TO REINVEST AND POSTING OF CIRCULAR
SAFARI INVESTMENTS RSA LIMITED Approved as a REIT by the JSE Limited (Incorporated in the Republic of South Africa) (Registration number 2000/015002/06) Share code: SAR ISIN: ZAE000188280 ( Safari or the
More informationCircular to Keaton Energy shareholders
This circular is important and requires your immediate attention. The definitions commencing on page 4 of the circular apply mutatis mutandis to this cover. Action required If you are in any doubt as to
More informationCIRCULAR TO ADCOCK SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 11 of this circular apply throughout this circular, including this cover page (unless
More information1. INTRODUCTION. (the transaction ). Rafik Mohamed is currently the sole director of PRSM.
ANDULELA INVESTMENT HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1950/037061/06) JSE share code: AND ISIN: ZAE000172870 ( Andulela or the company ) CATEGORY 1 DISPOSAL
More information1. INTRODUCTION 2. RATIONALE FOR THE PROPOSED TRANSACTION
Telkom SA Limited (Incorporated in the Republic of South Africa) (Registration number 1991/005476/06) (JSE and NYSE share code: TKG) (ISIN: ZAE000044897) ("Telkom") ANNOUNCEMENT REGARDING THE FOLLOWING
More informationSasol Limited CIRCULAR TO SASOL SHAREHOLDERS
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION Nothing in this Circular constitutes or forms part of any offer for sale or solicitation of any offer to buy any ordinary shares or other
More informationGLENCORE ANNOUNCES EXPRESSION OF INTEREST FOR OPTIMUM COAL HOLDINGS LIMITED
BAAR, SWITZERLAND 1 SEPTEMBER, 2011 GLENCORE ANNOUNCES EXPRESSION OF INTEREST FOR OPTIMUM COAL HOLDINGS LIMITED Glencore International plc ("Glencore") today announces its expression of interest in acquiring
More informationCircular to Caxton shareholders
Caxton and CTP Publishers and Printers Ltd (Incorporated in the Republic of South Africa) (Registration number 1947/026616/06) Share code: CAT ISIN: ZAE000043345 Preference share code: CATP ISIN: ZAE000043352
More informationTRANSACTION CAPITAL LIMITED (Incorporated in the Republic of South Africa) (Registration No. 2002/031730/06) ISIN: ZAE JSE share code: TCP
TRANSACTION CAPITAL LIMITED (Incorporated in the Republic of South Africa) (Registration No. 2002/031730/06) ISIN: ZAE00167391 JSE share code: TCP ("Transaction Capital" or the "Company") TERMS ANNOUNCEMENT
More informationPURPLE GROUP LIMITED
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 5 apply to this cover page. If you are in any doubt as to the action you should take,
More informationNotice of Annual General Meeting. Mondi Limited. and adoption of a mechanism to permit odd-lot offers to shareholders on Friday 3 May 2013
Mondi Limited Notice of Annual General Meeting and adoption of a mechanism to permit odd-lot offers to shareholders on Friday 3 May 2013 This document is important and requires your immediate attention
More informationThe Group s portfolio of LFG processing and power generation assets has the following attractive characteristics:
MONTAUK HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number: 2010/017811/06 Share code: MNK ISIN: ZAE000197455 Date of incorporation: 31 August 2010 (Previously HCI International
More informationGeneral instructions and information
DENEB INVESTMENTS LIMITED Registration number: 2013/091290/06 (Incorporated in the Republic of South Africa) JSE share code: DNB ISIN: ZAE000197398 ( Deneb or the Group or the company ) Notice of annual
More informationWITHDRAWAL OF CAUTIONARY ANNOUNCEMENT RELATING TO SALES OF EXCESS ASSETS AS RELEASED ON 3 FEBRUARY 2016 AND RENEWED ON 15 MARCH 2016 AND 3 MAY 2016
EQSTRA HOLDINGS LIMITED (Incorporated in South Africa) (Registration number 1998/011672/06) Share code: EQS ISIN: ZAE000117123 ( Eqstra ) TERMS ANNOUNCEMENT RELATING TO THE FOLLOWING: THE PROPOSED DISPOSAL
More informationNotice of annual general meeting for the year ended February 2014
Notice of annual general meeting TASTE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/002239/06) JSE code: TAS ISIN: ZAE000081162) ( Taste or the company ) Notice
More information( Massmart or the Company ) Registration number 2010/016839/07 ( Walmart )
Massmart Holdings Limited Wal Mart Stores, Inc (Incorporated in the Republic of South Africa) Incorporated in the State of Delaware, United States of America Registration number 1940/014066/06 Traded on
More informationSafaricom is owned by the government of Kenya (35%), Vodafone Kenya (39.93%), public investors (25%) and Safaricom employees (0.07%).
Vodacom Group Limited (Incorporated in the Republic of South Africa) (Registration number 1993/005461/06) Share code: VOD ISIN: ZAE000132577 ADR code: VDMCY ISIN: US92858D2009 ("Vodacom Group" or the company
More informationCircular to Brait shareholders relating to:
BRAIT SE (Formerly Brait S.A. ) (Registered in Malta as a European Company) (Registration number SE1) Listed in Luxembourg and South Africa Share code: BAT ISIN: LU0011857645 ( the Company or Brait ) Circular
More informationMERGER OF NEPI AND ROCKCASTLE: ISSUE OF CIRCULARS AND NOTICES OF GENERAL MEETING
NEW EUROPE PROPERTY INVESTMENTS PLC Incorporated and registered in the Isle of Man with registered number 001211V Registered as an external company with limited liability under the laws of South Africa,
More informationABRIDGED PRE-LISTING STATEMENT
EPE Capital Partners Ltd (Incorporated in the Republic of Mauritius) (Registration number C138883 C1/GBL) JSE share code: EPE ISIN: MU0522S00005 ( Ethos Capital ) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
More informationCIRCULAR TO IMPERIAL SHAREHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The defi nitions commencing on page 5 apply throughout this Circular including this front cover. If you are in any doubt as to what action
More informationNedbank Group Limited (Incorporated in the Republic of South Africa) (Registration number 1966/010630/06) JSE share code: NED ISIN: ZAE
This circular is important and requires your immediate attention. The definitions commencing on page 4 of this circular apply mutatis mutandis to this front cover. Action required If you are in any doubt
More informationCIRCULAR TO HOSPITALITY LINKED UNITHOLDERS
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and abbreviations commencing on page 8 of this Circular apply, mutatis mutandis, throughout this Circular including this
More informationLITHA HEALTHCARE GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number 2006/006371/06) Share code: LHG ISIN: ZAE
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The interpretations and definitions section commencing on page 4 of this Circular apply throughout this Circular, including this cover page
More informationAveng Limited. Circular to shareholders
Aveng Limited (Incorporated in the Republic of South Africa) (Registration number 1944/018119/06) Share code: AEG ISIN: ZAE000018081 ( Aveng or the Company ) Circular to shareholders regarding: a voluntary
More informationCIRCULAR TO SHAREHOLDERS
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 4 of this document apply to this entire document, including the cover page, except
More informationAveng Limited. Circular to shareholders regarding:
Aveng Limited (incorporated in the Republic of South Africa) (Registration number 1944/018119/06) Share code: AEG ISIN: ZAE00018081 ( Aveng or the Company ) Circular to shareholders regarding: the acquisition,
More informationTHIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The definitions and interpretations commencing on page 7 of this Circular apply to this front cover. Action required: If you are in any
More informationCircular to YeboYethu shareholders
This circular is important and requires your immediate attention The definitions and interpretations commencing on page 4 of this circular apply, changed as necessary, throughout this circular including
More informationPOWERING BETTER LIVES
Coal Ferrous Wind energy Titanium dioxide and pigment POWERING BETTER LIVES REVIEWED CONDENSED CONSOLIDATED ANNUAL FINANCIAL STATEMENTS AND UNREVIEWED PRODUCTION AND SALES VOLUMES INFORMATION for the year
More informationAveng Limited. Investment Bank and Transaction Sponsor Corporate Law and Tax Advisors Sponsor
THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION The final JSE approval is conditional upon the sign-off from all the members of the Board. A SENS announcement will be released to update
More informationNotice of annual general meeting of shareholders and debenture holders
Notice of annual general meeting of shareholders and debenture holders HOSPITALITY PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2005/014211/06) Share code
More informationRegistration number: 1983/009088/06 Company code: IMG
Imperial Holdings Limited ( Imperial or Group ) Incorporated in the Republic of South Africa Registration number: 1946/021048/06 Ordinary share code: IPL ISIN: ZAE000067211 Preference share code: IPLP
More informationTHIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in any doubt as to the action you should take in relation to this notice, please consult your Central Securities Depository Participant
More informationDatatec Westcon-Comstor $830 million transaction withdrawal of cautionary
DATATEC LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC Datatec Westcon-Comstor $830 million transaction withdrawal of cautionary
More informationNOTICE OF ANNUAL GENERAL MEETING 2017
NOTICE OF ANNUAL GENERAL MEETING 2017 Aspen Pharmacare Holdings Limited Aspen Pharmacare Holdings Limited 1 Notice of annual general meeting Aspen Pharmacare Holdings Limited Incorporated in the Republic
More informationCOMBINED OFFER CIRCULAR TO THE REMAINING SHAREHOLDERS OF SACMH
This circular is important and requires your immediate attention The definitions and interpretations commencing on page 11 of this circular apply to this circular in its entirety, including this cover
More informationCircular to shareholders. relating to:
GIJIMA GROUP LIMITED Incorporated in the Republic of South Africa (Registration number 1998/021790/06) Share code: GIJ ISIN: ZAE000147443 ( Gijima or the Company ) Circular to shareholders relating to:
More information1. INTRODUCTION. In furtherance of this strategy, the Board is pleased to advise that:
ECSPONENT LIMITED Incorporated in the Republic of South Africa Registration number: 1998/013215/06 JSE Code: ECS - ISIN: ZAE000179594 Debt Issuer Code: ECSP ( Ecsponent or the Company ) TERMS ANNOUNCEMENT
More information