RECM AND CALIBRE LIMITED - Update on Astoria Offer

Update on Astoria Offer

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 ASTORIA OFFER

Shareholders are referred to the announcement released by the Company on SENS on 4 May 2018,
wherein shareholders were advised 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 (the “Firm Intention
Announcement”). On 17 May 2018, shareholders were advised of the delay in posting of relevant
documents pertaining to the Voluntary Offer (“Offer Documents”).

Shareholders are advised that it remains the intention of the Company to proceed with the Voluntary
Offer as stated in the Firm Intention Announcement.

Given that Astoria is a Mauritian incorporated company, due process requires a review of the relevant
documentation by the Mauritian Financial Services Commission (“FSC”). The Company is engaging
with the FSC with a view to finalising the Voluntary Offer document, as soon as possible.

A further announcement will be made by RAC in relation to the timing of distribution of the Offer
Documents in due course.


15 June 2018
Cape Town

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

Date: 15/06/2018 09:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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