STELLAR CAPITAL PARTNERS LIMITED - Stellar / Torre - Stellar Capital mandatory offer to Torre shareholders becomes unconditional

Stellar / Torre - Stellar Capital mandatory offer to Torre shareholders becomes unconditional

Stellar Capital Partners Limited                        Torre Industries Limited
(Incorporated in the Republic of South Africa)          (Incorporated in the Republic of South Africa)
(Registration number 1998/015580/06)                    (Registration number 2012/144604/06)
Share code: SCP                                         Share Code: TOR
ISIN: ZAE000198586                                      ISIN: ZAE000188629
("Stellar")                                             (“Torre”)

STELLAR CAPITAL MANDATORY OFFER TO TORRE SHAREHOLDERS BECOMES UNCONDITIONAL

1 INTRODUCTION

  Shareholders are referred to the joint announcement released on the Stock Exchange News
  Service (“SENS”) on 23 June 2016 in which they were advised that Stellar had increased its
  shareholding in Torre from 33.86% to 35.46%, pursuant to which Stellar was obliged to make a
  mandatory offer to all Torre shareholders to acquire all of the ordinary shares of Torre that Stellar
  does not already own (“Offer”).

  The combined Offer circular was posted to Torre shareholders on Wednesday, 27 July 2016.

2 OFFER UNCONDITIONAL

  Shareholders are now advised that the Offer is unconditional in accordance with its terms. The
  Offer will remain open for a further 10 business days, pursuant to Regulation 105(5)(b) of the
  Takeover Regulations, 2011.

  Accordingly, the remaining salient dates pertaining to the Offer are as follows:


Event                                                                                                    2016
  Last day to trade in Torre shares in order to be eligible to accept the Offer             Tuesday 11October

  Torre Shares trade ex the entitlement to accept the Offer                             Wednesday, 12 October
  Announcement released on SENS in respect of the cash payment applicable
  to fractional entitlements, based on the volume weighted average price of
  Stellar shares traded on Wednesday, 5 October 2016, discounted by 10%                  Thursday, 13 October
  Record date to determine which shareholders are eligible to accept the
  Offer                                                                                    Friday, 14 October
  Closing date of the Offer at 12:00 on                                                    Friday, 14 October
  Date of discharge of the Offer consideration                                             Monday, 17 October
  Results of the Offer to be announced on SENS                                             Monday, 17 October
  Results of the Offer to be published in the press                                       Tuesday, 18 October


Johannesburg
30 September 2016

Financial adviser and sponsor to Stellar
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Sponsor to Torre
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 30/09/2016 12:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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