AFROCENTRIC INVESTMENT CORPORATION LIMITED - Finalisation of fairness opinion for the acquisition of remaining interest in Afrocentric Distribution Services

Finalisation of fairness opinion for the acquisition of remaining interest in Afrocentric Distribution Services

AfroCentric Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000570/06)
JSE Code: ACT ISIN: ZAE000078416
(“AfroCentric” or “the Group”)



FINALISATION OF FAIRNESS OPINION FOR THE ACQUISITION OF REMAINING
INTEREST IN AFROCENTRIC DISTRIBUTION SERVICES



Shareholders are referred to the announcement published on SENS on 8 June 2022
(“Transaction Announcement”). The capitalized terms in this announcement bear the same
meaning as in the Transaction Announcement.

Shareholders were advised that the Company had concluded the Acquisition, which
constitutes a small related party transaction in terms of the Listings Requirements of the JSE
Limited. Further, that the independent directors of AfroCentric had appointed Mazars
Corporate Finance Proprietary Limited as the Independent Expert to provide written
confirmation that the terms of the Acquisition are fair as far as Shareholders are concerned,
and that Shareholders would be advised once their Opinion became available.

The Opinion has now been finalised, the Independent Expert has considered the terms of the
Acquisition and has expressed the opinion that the Acquisition is fair as far as AfroCentric
Shareholders are concerned.

A copy of this opinion is available for inspection at AfroCentric’s registered office for a period
of 28 days from the date of this announcement and may also be requested via email, at no
additional charge, from the Group Company Secretary at: billym@afrocentrichealth.com.


Johannesburg
15 June 2022


JSE Sponsor to AfroCentric




Questco Corporate Advisory Proprietary Limited

Date: 15-06-2022 01:00:00
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