Extension of circular posting date
STELLAR CAPITAL PARTNERS LIMITED CADIZ HOLDINGS LIMITED
(Incorporated in the Republic of (Incorporated in the Republic of
South Africa) South Africa)
(Registration number (Registration number
Share code: SCP Share code: CDZ
ISIN: ZAE000198586 ISIN: ZAE000017661
EXTENSION OF CIRCULAR POSTING DATE
Shareholders are referred to the joint announcement published on
SENS by Stellar and Cadiz on 19 June 2015 (the “Firm Intention
Announcement”) regarding, inter alia, the firm intention of
Stellar, acting through a special purpose vehicle to be
incorporated as a wholly-owned subsidiary of Stellar, to make an
offer to acquire 100% of the total issued ordinary shares in Cadiz
(excluding 12 073 989 treasury shares held by a subsidiary of
Cadiz, which constitute approximately 4.91% of the total issued
ordinary share capital of Cadiz), being 233 749 129 shares:
- by way of a scheme of arrangement in terms of section 114(1)(c),
read with section 115, of the Companies Act, No. 71 of 2008, as
amended, to be proposed by the board of directors of Cadiz
between Cadiz and all its shareholders (including, for the
avoidance of doubt, Stellar); or
- if the Scheme is not proposed or fails and Stellar so elects,
by way of an offer by Stellar to all the Offeree Shareholders
(other than Stellar) to acquire the Offer Shares.
All terms defined in the Firm Intention Announcement shall bear
the same meaning in this announcement.
The offer to the Offeree Shareholders to receive, if they so elect,
Bidco Shares as Offer Consideration (on the basis set out in
paragraph 1.4 of the Firm Intention Announcement), constitutes an
offer to the public in terms of section 95(1)(h) of the Companies
Act and as such, a prospectus will be required to be issued for
Bidco in terms of section 99(3) of the Companies Act (the
Shareholders are hereby advised that, in order to allow sufficient
time for, inter alia, the preparation of the report to be issued
by the Independent Expert in terms of section 114(3) of the
Companies Act and section 1.14(d) of the Listings Requirements of
the JSE, the approval of the Circular by the JSE, and the
registration of the Prospectus with the Companies and Intellectual
Property Commission, the TRP has, in terms of section 119(6)(c)
of the Companies Act, granted Stellar and Cadiz an extension of
the posting date for the Circular until Friday, 7 August 2015.
The salient dates in relation to the Scheme and the General
Offer will be published on SENS and in the press prior to the
posting of the Circular.
9 July 2015
Corporate Finance Adviser and Sponsor to Stellar: Stellar Advisers
Sponsor to Cadiz: Investec Bank Limited
Legal Advisers to Cadiz: DLA Cliffe Dekker Hofmeyr Incorporated
Independent Expert: PSG Capital Proprietary Limited
Date: 09/07/2015 10:52:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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