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Postponement of the unwind of the current SAB Zenzele B-BBEE Ownership Transaction
Anheuser-Busch InBev SA/NV
(Incorporated in the Kingdom of Belgium)
Register of Companies Number: 0417.497.106
Euronext Brussels Share Code: ABI
Mexican Stock Exchange Share Code: ANB
NYSE ADS Code: BUD
JSE Share Code: ANH
ISIN: BE0974293251
(“AB InBev” or the “Company”)
POSTPONEMENT OF THE UNWIND OF THE CURRENT SAB ZENZELE B-BBEE OWNERSHIP
TRANSACTION AND IMPLEMENTATION OF THE NEW SAB ZENZELE KABILI B-BBEE OWNERSHIP
TRANSACTION
1. INTRODUCTION
Shareholders of SAB Zenzele Holdings (RF) Limited (“SAB Zenzele”) are referred to the
announcement released on SENS on Monday, 17 February 2020 regarding the unwind of the
current SAB Zenzele broad-based black economic empowerment (“B-BBEE”) ownership
transaction (“Existing Empowerment Transaction”) and the implementation of the new SAB
Zenzele Kabili B-BBEE transaction (“New Empowerment Transaction”) (such announcement,
the “Terms Announcement”).
Capitalised terms used but not separately defined in this announcement have the meaning
ascribed thereto in the Terms Announcement.
2. POSTPONEMENT
The Independent Board has continued to monitor the impact of the COVID-19 pandemic on the
unwind of the Existing Empowerment Transaction and the implementation of the New
Empowerment Transaction. Against this backdrop, the Independent Board, together with SAB
and SAB Zenzele Kabili, have resolved to postpone the unwind of the Existing Empowerment
Transaction and the launch of the New Empowerment Transaction, which accordingly also
involves the postponement of the SAB Zenzele Scheme, and the meeting convened to consider
and approve it, and the postponement of the Reinvestment Offer and the BEE Listing.
The Independent Board has the responsibility to consider the best interests of all SAB Zenzele
Retailer Shareholders, and believes that now is not the right time to be proposing a scheme
where the Independent Board is asking SAB Zenzele Retailer Shareholders to make a long-term
equity investment decision in the current volatile and uncertain equity market.
Accordingly, the unwind of the Existing Empowerment Transaction, the shareholder vote in
respect of the SAB Zenzele Scheme and implementation of New Empowerment Transaction
(including the SAB Zenzele Scheme, the Reinvestment Offer and the BEE Listing), have been
postponed by up to 1 year (i.e. prior to 31 March 2021) as permitted by the terms and conditions
of the Existing Empowerment Transaction, to allow for equity market and operating conditions
to improve.
3. UPDATED TIMETABLE
Further details in respect of an updated timetable, will be communicated in due course, and
SAB Zenzele Retailer Shareholders are also encouraged to join the SAB Zenzele Retailers
Facebook Group, www.facebook.com/groups/181049256534071/ or to dial *120*1138# or
visit www.investecsps.co.za to stay updated regarding developments.
1
Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with
secondary listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with
American Depositary Receipts on the New York Stock Exchange (NYSE: BUD).
Bryanston
3 April 2020
JSE Sponsor to AB InBev
Questco Corporate Advisory Limited
2
Date: 03-04-2020 04:36:00
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