EQSTRA HOLDINGS LIMITED - Finalisation announcement in relation to the unbundling and name change

Release Date: 08/11/2016 11:02
Code(s): EQS
Wrap Text
Finalisation announcement in relation to the unbundling and name change

(Incorporated in South Africa)
(Registration number 1998/011672/06)
Share code: EQS ISIN: ZAE000117123
(“Eqstra” or the “Company”)

Finalisation announcement in relation to the proposed disposal of Eqstra’s Fleet Management and
Logistics Division and Industrial Equipment Division to enX Group Limited (“enX”), together with a
recapitalisation of the remaining Eqstra business by enX (“Disposal”), the unbundling of the enX
Consideration Shares to Eqstra shareholders (“Unbundling”) and the proposed name change
(“Change of Name”) (“Proposed Transaction”)

Shareholders are referred to the announcement released on SENS on 22 September 2016 in which
the Company announced that all resolutions were passed at the general meeting in relation to the
Proposed Transaction, and to the circular dated 24 August 2016 relating thereto, which should be
read in its entirety for a full understanding of the Proposed Transaction.

The Board has pleasure in announcing that all suspensive conditions in relation to the Proposed
Transaction have been fulfilled, and the Proposed Transaction is now unconditional. The effective
date of the Disposal is 8 November 2016.

Set out below is confirmation of the salient dates and times relating to the implementation of the
Proposed Transaction:

 Last day to trade in Eqstra ordinary shares on the JSE to participate     Tuesday, 15 November
 in the Unbundling1
 Last day to trade in Eqstra ordinary shares under the old name            Tuesday, 15 November
 Listing and trading of the new Eqstra ordinary shares under the new     Wednesday, 16 November
 name “eXtract Group Limited” (ISIN: ZAE000223202) and removal of
 the old Eqstra ordinary shares on the JSE trading system
 Announcement relating to the ratio apportionment of expenditure          Thursday, 17 November
 and market value in respect of the Unbundling by Eqstra of the enX
 Consideration Shares to be released on SENS
 Announcement relating to the cash value (“Cash Value”) determined        Thursday, 17 November
 for use in the payment of fractions as a result of the Unbundling to
 be released on SENS
 Unbundling record date to receive enX Consideration Shares and             Friday, 18 November
 record date for the new name “eXtract Group Limited”
 enX Consideration      Shares   unbundled     to   Eqstra   ordinary       Monday, 21 November
 Eqstra ordinary shareholders’ accounts with CSDP or broker updated         Monday, 21 November
 Issue of ordinary shares with the new name “eXtract” and                   Monday, 21 November
 certificates posted/CSDPs and brokers accounts updated
1. The Unbundling will be in the ratio of 0.13 enX Consideration Shares for every 1 Eqstra ordinary
   share held at the close of business on the Unbundling record date (subject to the rounding
   principles contained in the Eqstra memorandum of incorporation i.e. allocations will be
   rounded down to the nearest whole number, resulting in allocations of whole enX Consideration 
   Shares and a cash payment for the fraction). The weighted average traded price
   of an enX Share for last day to trade + 1 (i.e. Wednesday, 16 November 2016) less 10% will be
   used as the Cash Value.
2. All dates and times shown above are South African dates and times.

8 November 2016


Corporate Advisor: Rothschild (South Africa) Proprietary Limited
Transaction Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Legal Advisor: Werksmans Inc.

Date: 08/11/2016 11:02:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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