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SOVEREIGN FOOD INVESTMENTS LIMITED - Takeover Special Committee ruling and termination of the Offer

Release Date: 08/11/2016 13:07
Code(s): SOV     PDF:  
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Takeover Special Committee ruling and termination of the Offer

SOVEREIGN FOOD INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
Registration Number: 1995/003990/06
JSE Code: SOV
ISIN Number: ZAE000009221
(“Sovereign”)

TAKEOVER SPECIAL COMMITTEE RULING AND TERMINATION OF THE OFFER


Unless otherwise defined, capitalised words and terms contained in this announcement shall bear the
same meanings ascribed thereto in the announcement published by Sovereign on SENS on Thursday,
6 October 2016.

Shareholders are hereby advised that the Takeover Special Committee handed down its ruling today
in respect of the Ruling Application made by Sovereign (“Ruling”).

In terms of the Ruling, the Takeover Special Committee unanimously decided that:

-   the Purported Waiver by Country Bird is contrary to the Companies Act and the Regulations;
-   as a result, the Offer lapsed on 14 September 2016; and
-   Country Bird is required to pay the costs of the Takeover Special Committee.

In the circumstances, Shareholders who accepted the Offer in respect of all or any of their Shares are
hereby notified that:

-   they will not have their Shares acquired by Country Bird nor receive the cash consideration of
    R9.00 per Share, cum any dividends paid by Sovereign from 6 July 2016 onwards, in terms of the
    Offer; and
-   they are entitled to freely trade in their Shares with immediate effect.

Port Elizabeth
8 November 2016

Corporate advisor and sponsor
One Capital

Attorneys to Sovereign
Cliffe Dekker Hofmeyr Inc.

Date: 08/11/2016 01:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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