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JSE LIMITED - GEN - General - Country Bird Holdings Pty Ltd - Announcement that the CBH offer is unconditional as to acceptances

Release Date: 13/09/2016 10:25
Code(s): JSER     PDF:  
Wrap Text
GEN - General - Country Bird Holdings Pty Ltd -  Announcement that the CBH offer is unconditional as to acceptances

Country Bird Holdings Proprietary Limited
Incorporated in the Republic of South Africa
(Registration number 2005/008505/07)
(“CBH”)


ANNOUNCEMENT THAT THE CBH OFFER IS UNCONDITIONAL AS TO ACCEPTANCES


Sovereign shareholders (“Sovereign Shareholders”) are referred to the announcement released by
CBH on SENS on Wednesday, 6 July 2016 (“Firm Intention Announcement”) and the circular to
Sovereign Shareholders dated Monday, 11 July 2016 (“Offer Circular”) in relation to the conditional
cash offer by CBH to acquire the entire ordinary share capital of Sovereign other than those ordinary
shares already held by CBH and its concert parties and other than the ordinary shares held by
Sovereign’s subsidiaries (“Offer”).

As set out in paragraph 4 of the Firm Intention Announcement and paragraph 5.4 of the Offer Circular,
the Offer is subject to a number of conditions precedent including, inter alia, that the Offer will become
unconditional once sufficient acceptances have been received from Sovereign Shareholders such that
CBH, together with its concert parties, will hold at least 50.0% plus 1 of the total issued share capital of
Sovereign (including treasury shares) after the implementation of the Offer (“Acceptance Condition”).

Sovereign Shareholders are hereby notified that CBH has waived the Acceptance Condition and as
such, the Offer is now unconditional as to acceptances. The Offer does, however, remain conditional
on the remaining conditions precedent set out in paragraph 4 of the Firm Intention Announcement and
paragraph 5.4 of the Offer Circular.


Johannesburg
13 September 2016

Financial advisor: Investec Bank Limited

Legal advisor: Kern & Partners

Competition law advisor: Bowman Gilfillan

Date: 13/09/2016 10:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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