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Notification in terms of section 122 of the Companies Act 71 of 2008
CLIENTELE LIMITED
Incorporated in the Republic of South Africa)
Registration Number: 2007/023806/06)
Share code: CLI
ISIN: ZAE000117438
(Clientele” or “the Company”)
Notification in terms of section 122 of the Companies Act, no 71 of
2008 (“Companies Act”)
Clientele has been working for a considerable length of time to put
in place a BBBEE transaction, as part of its BBBEE initiatives, which
will add value both to the participants in the transaction and to
Clientele and all its stakeholders. We are pleased to announce that a
transaction has now been concluded through the sale by Old Mutual
Limited (“Old Mutual”) to Yellowwoods Trust Investment ("YTI") of 12
963 747 shares in Clientele. YTI is the investment company of The
Hollard Foundation Trust.
The Hollard Foundation Trust is catalyst for positive change in South
Africa, with a focus on promoting inclusive and equitable economic
and social development. Its core large scale social initiatives
include the Harambee Youth Employment Accelerator which is focussed
on addressing youth unemployment, PILO and FUEL which focus on
improving learning outcomes and feeding in public schools, and Kago
Ya Bana and Smartstart which are driving large scale provision of
Early Childhood Development.
We are gratified that the relationship between Clientele and YTI will
allow Clientele input into the application of benefits flowing
through YTI to the ultimate beneficiaries so that Clientele may
further its existing and future corporate responsibility objectives
as well as contributing to the growth of value in YTI.
As part of this transaction shareholders are hereby advised that
Clientele has received a notification in terms of section 122(3)(b)of
the Companies Act and paragraph 3.83 of the JSE Limited’s listings
requirements that the above mentioned 12 963 747 Clientele shares
were acquired by YTI from Old Mutual on 31 July 2015, thereby
reducing Old Mutual’s shareholding in the Company’s share capital
from 8.15% to 4.23%. The shares were acquired at a price of R 17.25
per share.
5 August 2015
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Registration number 1970/003711/07)
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