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Fulfillment of Conditions Precedent and Finalisation of Small Related Party Transaction
LIBERTY HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number 1968/002095/06
ISIN code: ZAE000127148
Alpha Code LBH
("Liberty Holdings" or “Company”)
FULFILLMENT OF CONDITIONS PRECEDENT AND FINALISATION OF SMALL RELATED PARTY
TRANSACTION
Shareholders of Liberty Holdings (“Shareholders”) are referred to the Company
announcement, released on the Stock Exchange News Service on 31 July 2019,
which advised Shareholders that the Company had entered into a share sale
agreement with Stanbic Africa Holdings Limited ("SAHL"), a wholly owned
subsidiary of Standard Bank Group Limited (“SBG”) to dispose of 100% of its
shares in STANLIB Ghana Limited ("the Transaction") to SAHL, and the
announcement on 2 September 2019 which advised that Ernst & Young Advisory
Services (Pty) Limited had concluded and provided a fairness opinion to the
Related Party Committee, an authorised sub-committee of the Board of Liberty
Holdings, that the terms of the Transaction were fair as far as the
Shareholders, other than SBG, were concerned.
The Company would like to inform Shareholders that all the conditions
precedent to the Transaction have been fulfilled and the Transaction formally
closed on 13 December 2019.
17 December 2019
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 17-12-2019 07:30:00
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