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enX GROUP LIMITED - Finalisation announcement in respect of the unbundling

Release Date: 03/10/2017 09:14
Code(s): ENX     PDF:  
Wrap Text
Finalisation announcement in respect of the unbundling

ENX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253
(“enX”)


FINALISATION ANNOUNCEMENT IN RESPECT OF THE UNBUNDLING


Shareholders are referred to the announcements released on SENS (the last of which was released on
28 September 2017) in respect of the restructure and recapitalisation (the “restructure”) of eXtract Group Limited
(“eXtract”) and the proposed unbundling and distribution by enX of 3 861 041 279 eXtract shares to enX shareholders
in the ratio of 21.39799 eXtract shares for every one enX share held (the “unbundling”).

enX and eXtract are pleased to inform shareholders steps 1 – 5 of the restructure (as detailed in the circular issued to
enX shareholders on 11 July 2017) have now been implemented. Accordingly, the salient dates and times in respect of
the unbundling and distribution are as follows:

                                                                                                                2017
Unbundling finalisation announcement is released on SENS by 11:00 on                              Tuesday, 3 October
Last day to trade in enX shares in order to participate in the unbundling                        Tuesday, 10 October
Trading in enX shares ‘ex’ the entitlement to receive the unbundled eXtract shares
commences                                                                                      Wednesday, 11 October
Price for fractional entitlements and the ratio apportionment of expenditure and market
value in respect of the unbundling is announced on SENS by 11:00 on                             Thursday, 12 October
Record date for the unbundling ("unbundling record date") at close of business on                 Friday, 13 October
Dematerialised enX shareholders’ accounts at their CSDP or broker updated to reflect the
unbundled eXtract shares                                                                          Monday, 16 October
Issue of new eXtract share certificates to certificated enX shareholders, provided that the
old share certificates have been lodged by 12:00 on Friday, 13 October 2017 (share
certificates received after this time will be posted within 5 business days of receipt)           Monday, 16 October

Notes:
1. All dates and times in this announcement are local dates and times in South Africa.
2. The unbundling will be in the ratio of 21.39799 eXtract shares for every one enX share held at the close of business
    on the unbundling record date

In implementing the unbundling, enX is required by the JSE to apply the rounding principle that a shareholder becoming
entitled to a fraction of a share arising from the consolidation will be rounded down to the nearest whole number,
resulting in the allocation of whole eXtract shares and a cash payment for the fraction. The value of such cash payment
will be the volume weighted average traded price per eXtract share less 10% on the first day of trade after the last day
to trade in order to participate in the consolidation, which will be announced on SENS on the second day of trade after
the last day to trade in order to participate in the unbundling.

3 October 2017

Corporate advisor and sponsor                                      Legal advisor to enX
Java Capital                                                       enS Africa
Date: 03/10/2017 09:14:00 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
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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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