Wrap Text
Revised Transactions timetable
SOVEREIGN FOOD INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
Registration Number: 1995/003990/06
JSE Code: SOV
ISIN Number: ZAE000009221
(“Sovereign” or the “Company”)
REVISED TRANSACTIONS TIMETABLE
Unless otherwise indicated, capitalised words and terms contained in this announcement shall bear
the same meanings ascribed thereto in the circular to Sovereign shareholders dated
11 December 2015 (“Circular”).
Sovereign has received notices from certain Shareholders regarding their intention to exercise
Appraisal Rights. In terms of the Circular (as read together with the Companies Act), such
Shareholders are entitled to exercise their Appraisal Rights within 25 business days after the date on
which Sovereign sent notices to them confirming that the relevant Resolutions which they voted
against were duly adopted by the Company. In the circumstances, Shareholders are hereby advised
of the following revision to the Transactions timetable published in the Circular:
2016
Offer opening date at 09:00 on Friday, 15 January
Last date on which Dissenting Shareholders can exercise their
Appraisal Rights, pursuant to section 164(5) to 164(8) of the Friday, 19 February
Companies Act
Expected date of receipt of the compliance certificate from the TRP on
Friday, 8 April
or about
Finalisation announcement published on SENS on or about Friday, 8 April
Last day to trade in Shares (“Revised Offer and Scheme LDT”) in
order to be registered as a Shareholder in the Register at the Offer and
Friday, 15 April
Scheme record date (“Revised Offer and Scheme Record Date”), on
or about
Shares trade “ex” the right to participate in the Offer and Scheme, on
Monday, 18 April
or about
Expected date for the closing of the Offer (“Revised Offer Closing
Friday, 22 April
Date”) at 12:00 on or about
Revised Offer and Scheme Record Date, being the expected date by
which a Shareholder must be recorded as such in the Register in order Friday, 22 April
to be entitled to participate in the Offer and Scheme, on or about
Expected date on which the Share Acquisition will be implemented in
Monday, 25 April
terms of the Offer (i.e. the Offer becomes operative)
Pursuant to the Offer becoming operative, the expected date for
payment of the Offer Consideration to be paid electronically or posted
to Participating Shareholders who are Certificated Shareholders (if the
Monday, 25 April
Form of Acceptance and Documents of Title are received by the
Transfer Secretaries on or before 12:00 on the Revised Offer Closing
Date), on or about
Pursuant to the Offer becoming operative, the expected date for
Participating Shareholders who are Dematerialised Shareholders
expected to have their accounts held at their CSDP or Broker debited Monday, 25 April
with the relevant number of Acquisition Shares and credited with the
Offer Consideration, on or about
Expected date on which the Share Acquisition will be implemented in
terms of the expropriation provisions of the Scheme (i.e. the Scheme Tuesday, 26 April
becomes operative)
Pursuant to the Scheme becoming operative, the expected date for
payment of the Offer Consideration to be paid electronically or posted
to Participating Shareholders who are Certificated Shareholders (if the
Tuesday, 26 April
Form of Surrender and Documents of Title are received by the Transfer
Secretaries on or before 12:00 on the Revised Offer Closing Date), on
or about
Pursuant to the Scheme becoming operative, the expected date for
Participating Shareholders who are Dematerialised Shareholders
expected to have their accounts held at their CSDP or Broker debited Tuesday, 26 April
with the relevant number of Acquisition Shares and credited with the
Offer Consideration, on or about
Notes:
1. All of the above dates and times are subject to change, with the approval of the JSE and the
TRP, if required. The dates have been determined based on certain assumptions regarding the
date by which certain regulatory approvals will have been obtained. Any change in the dates and
times will be released on SENS.
2. All times given in this announcement are local times in South Africa.
3. Shareholders should note that as transactions in shares are settled in the electronic settlement
system used by Strate, settlement of trades takes place 5 Business Days after such trade,
therefore persons who acquire Shares after the Revised Offer and Scheme LDT, expected to be
Friday, 15 April 2016, will not be entitled to participate in the Offer and thus will not be entitled to
receive payment of the Offer Consideration.
4. No dematerialisation or rematerialisation of Shares may take place between the Revised Offer
and Scheme LDT and the Revised Offer and Scheme Record Date.
5. Shareholders should exercise caution when dealing in Shares between the Revised Offer and
Scheme LDT and the Revised Offer and Scheme Record Date.
Port Elizabeth
4 February 2016
Corporate advisor and Sponsor
One Capital
Attorneys to Sovereign
Cliffe Dekker Hofmeyr Inc.
Date: 04/02/2016 04:16:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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