RECM AND CALIBRE LIMITED - Update on posting of Offer Document to Astoria Shareholders and Circular to RAC Shareholders

Update on posting of Offer Document to Astoria Shareholders and Circular to RAC Shareholders

RECM AND CALIBRE LIMITED
(Incorporated in the Republic of South Africa)
Registration number 2009/012403/06
Preference Share Code: RACP
ISIN: ZAE000145041
(“RAC” or "the Company")


UPDATE ON POSTING OF OFFER DOCUMENT TO ASTORIA SHAREHOLDERS AND CIRCULAR TO RAC
SHAREHOLDERS


Shareholders are referred to the announcement released by the Company on SENS on 4 May 2018
wherein shareholders were advised, inter alia, that the Company, acting through its wholly-owned
subsidiary, Livingstone Investments Proprietary Limited, had indicated its firm intention to make a
conditional voluntary offer ("Voluntary Offer") to shareholders of Astoria Investments Limited
(“Astoria”) to acquire all the remaining shares of Astoria which it does not currently hold.

Further thereto, shareholders are advised that the Company is awaiting final comments from various
regulatory bodies and as such there has been a delay in the posting of the offer document to Astoria
shareholders, as well as the circular to RAC shareholders seeking approval for the issue of an additional
30 000 000 RAC participating preference shares to be used as the top-up share consideration in terms
of the Voluntary Offer.

A further announcement will be made once RAC has obtained more clarity on the timing of distribution
of both documents.


17 May 2018
Cape Town

Sponsor and Corporate Advisor to RAC
Questco Corporate Advisory Proprietary Limited
and
Questco Proprietary Limited

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