AFRISTRAT INVESTMENT HOLDINGS LIMITED - Related Party Acquisition of MHMK Financial Services Limited: Extension of Circular Distribution Date

Related Party Acquisition of MHMK Financial Services Limited: Extension of Circular Distribution Date

AFRISTRAT INVESTMENT HOLDINGS LIMITED
(formerly Ecsponent Limited)
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ATI - ISIN: ZAE000287587
Debt Issuer Code: ATID
Hybrid Issuer Code: ATIG
(“Afristrat” or “the Company”)


RELATED PARTY ACQUISITION OF MHMK FINANCIAL SERVICES LIMITED: EXTENSION OF
CIRCULAR DISTRIBUTION DATE


1. Introduction

   1.1.   Shareholders are referred to the announcement released on SENS on Tuesday, 18 May 2021 relating
          inter alia to the proposed acquisition by Afristrat of MHMK Financial Services Limited (“MHMK
          Financial Services”), a share consolidation and the implementation of an employee share scheme
          (together, “Proposed Transaction”).

   1.2.   The acquisition of MHMK Financial Services is classified as a related party, Category 1 reverse
          takeover transaction in terms of the Listings Requirements of the JSE Limited (“JSE”), and as such,
          a circular must be distributed to Afristrat shareholders incorporating inter alia revised listings
          particulars, a fairness opinion, historical and pro forma financial information and the various
          resolutions requiring the approval of shareholders in order to implement the acquisition and other
          aspects of the Proposed Transaction (“Circular”).

2. Extension of Circular Distribution Date

   2.1.   The Circular requires the collation of the most recent audited financial information available for both
          Afristrat and MHMK Financial Services (“Financial Information”), in order to comply with the
          financial disclosure requirements set out in Schedule 5 and Section 8 of the JSE Listings
          Requirements.

   2.2.   The Company had released its audited annual results for the year ended 31 March 2021 on
          Wednesday, 30 June 2021.

   2.3.   In light of this and considering the financial disclosure requirements of the JSE Listings Requirements
          as applicable to the Proposed Transaction, the Company approached the JSE for a dispensation from
          paragraph 9.20(b) of the JSE Listings Requirements (which, in the ordinary course, requires the
          distribution of the Circular by no later than Friday, 16 July 2021) in order to have sufficient time to
          prepare the Financial Information and the various reports required thereon and obtain approval of
          the Circular from the regulatory authorities.

   2.4.   The Company is pleased to announce that this dispensation has been granted by the JSE, and the
          Circular will instead be distributed to Afristrat shareholders by no later than Tuesday, 31 August
          2021.



5 July 2021
Pretoria

Sponsor
Merchantec Capital

Corporate Advisor
YW Capital

Legal Advisor
Webber Wentzel

Date: 05-07-2021 09:25:00
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