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Disclosure Of Significant Sale Of Mpact Ordinary Shares
Mpact Limited
(Incorporated in the Republic of South Africa)
(Registration number 2004/025229/06)
JSE share code: MPT ISIN: ZAE000156501
(“Mpact” or “the Company”)
DISCLOSURE OF SIGNIFICANT SALE OF MPACT ORDINARY SHARES
In accordance with the JSE Limited Listings Requirements and
Section 122 of the Companies Act No 71 of 2008, as amended,
shareholders are advised of the following:
Shanduka Packaging (Proprietary) Limited (“Shanduka”) has notified
the Company that it has disposed all of its shareholding, being
17 150 154 Mpact ordinary shares representing 10.48% of the
Company’s ordinary shares in issue. Shanduka acquired an interest
in Mondi Packaging South Africa (Proprietary) Limited in 2005 as
part of a B-BBEE transaction and received Mpact ordinary shares
when Mpact was demerged from Mondi Limited in July 2011. The
rationale for Shanduka disposing of its interest is that its
private equity fund, Shanduka Value Partners 1 (“the Fund”) is
reaching maturity and Shanduka has to settle the debt attributable
to the Fund. The sale of Shanduka’s shares in no way reflects its
view on the prospects of the Company.
Mpact appreciates the supportive role that Shanduka has played as
a B-BBEE shareholder in the Company since 2005.
While this change of shareholding may have an effect on its B-BBEE
ownership, Mpact intends to continue working on all elements of
the B-BBEE scorecard to ensure that a competitive rating is
maintained. Mpact is aware of the new B-BBEE codes currently
issued for public comment and will endeavour to align its B-BBEE
initiatives with the new codes once they are finalised.
Melrose Arch
25 October 2012
Merchant Bank and Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
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