Wrap Text
ATON mandatory offer to acquire all the issued shares of Murray & Roberts Holdings Limited (“M&R”)
ATON GmbH
Incorporated in Munich, Germany
Registration number with the commercial register at the local court of Munich
HRB 193331
(“ATON”)
ATON MANDATORY OFFER TO ACQUIRE ALL THE ISSUED SHARES OF MURRAY & ROBERTS HOLDINGS
LIMITED (“M&R”): ANNOUNCEMENT OF FURTHER EXTENSION OF LONG STOP DATE FOR FULFILMENT
OF CONDITIONS TO MONDAY 30 SEPTEMBER 2019
Shareholders of M&R are referred to ATON’s mandatory offer in terms of section
123 of the Companies Act, 71 of 2008 to all M&R Shareholders, other than ATON or
ATON’s affiliates (“Offer”), to acquire all the remaining issued and to be issued
ordinary shares of M&R not already owned by ATON or any ATON affiliate at an offer
consideration of ZAR17.00 per Offer Share.
Unless otherwise indicated, capitalised words and expressions in this announcement
have the meanings ascribed to them in the mandatory offer circular (“Offer
Circular”) posted by ATON to M&R Shareholders eligible to participate in the Offer
on Monday 4 June 2018, and published on its website www.aton-offer.com/ on Tuesday
5 June 2018.
The Offer is subject to the fulfilment or waiver, as the case may be, of certain
Conditions set out in paragraph 3.2 of the Offer Circular by the Long Stop Date.
With regard to the Condition set out in paragraph 3.2.1.4 of the Offer Circular,
the process to obtain merger control clearances or approvals from the relevant
competition authorities is ongoing and is expected to extend beyond the Long Stop
Date of Sunday, 30 June 2019. Accordingly, M&R Shareholders are advised that ATON,
in accordance with its right in paragraph 3.2.2 of the Offer Circular to extend
the Long Stop Date for the fulfilment or waiver of the Conditions, has elected to
extend, and hereby extends, the Long Stop Date from Sunday, 30 June 2019 to Monday,
30 September 2019.
M&R Shareholders are advised that ATON’s right and entitlement as set out in
paragraph 3.2.2 of the Offer Circular, in its sole and absolute discretion, but
in accordance with the requirements of the Takeover R egulations and applicable
laws, to further extend the Long Stop Date remains reserved.
SALIENT DATES AND TIMES OF THE OFFER
Save for the extension of the Long Stop Date to Monday, 30 September 2019, the
important dates and times for the Offer as set out at page 10 of the Offer Circular
(including any other aspect of the Offer) remain unchanged.
The salient dates and times relating to the Offer are set out below. Capitalised
terms bear the same meaning as set out in the Offer Circular:
Long Stop Date Monday, 30 September 2019
Offer to be announced as being within one Business Day after the
unconditional in all respects Offer becomes unconditional
in all respects
The Closing Date anticipated to be a Friday no
earlier than 10 Business Days
following the
date on which the Offer becomes
unconditional in all respects
Last day to trade in M&R Shares in Tuesday prior to the Closing Date
order to participate in the Offer
Ex-date Wednesday prior to the
Closing Date
Record Date in order to participate in the the Closing Date
Offer at 12:00 on
The Offer closes at 12:00 on the Closing Date
Payment of Offer Consideration to Offerees see notes 12 and 13 below
who accept the Offer
Results of the Offer to be released on SENS the second Business Day
and published in the South African press on after the Closing Date
Notes:
1. All dates and times above and quoted generally in this announcement are South
African local times unless otherwise stated.
2. The above dates and times are reflected on the basis of a 24-hour clock (with
a day being a period of 24 hours running from midnight (00:00) to midnight
(24:00)), and are subject to change in accordance with the terms of the Offer
Circular. Any such change shall be released on SENS and published in the
South African press.
3. An Offeree who has accepted the Offer may withdraw that acceptance, by notice
in writing delivered to ATON, if the Offer has not been declared wholly
unconditional by midnight on the 65th Business Day after the Opening Date.
4. An Offeree who has withdrawn an acceptance of the Offer, as contemplated in
note 3, may again accept the Offer in the manner provided in terms of the
Offer (sees notes 6 and 7) at any time before the Closing Date, unless the
Offer has terminated. An Offeree may not withdraw acceptance and subsequently
re-accept the Offer more than once.
5. ATON reserves, in its sole and absolute discretion, the right to extend the
Offer Period and the Long Stop Date, in which event all amended dates and
times relating to the Offer will be released on SENS and published in the
South African press as per note 2 above.
6. Dematerialised Shareholders wishing to accept the Offer are required to notify
their CSDPs or brokers, as the case may be, of their intention to accept the
Offer in the manner stipulated in the custody agreements entered into between
such Dematerialised Shareholders and their CSDPs or brokers, as the case may
be.
7. Certificated Shareholders wishing to accept the Offer are required to complete
the form of acceptance, transfer and surrender (pink) in accordance with the
instructions therein to be received by the Receiving Agents by no later than
12:00 on the Closing Date.
8. In the event that the Conditions are not fulfilled or, where waiver or
adjustment is permitted, not waived or adjusted, by the Long Stop Date, the
contract of sale and purchase contemplated by the Offer will not come into
effect and all Documents of Title surrendered by the Offerees in respect of
the Offer will be returned to the Offerees concerned, at the risk of the
relevant Offerees.
9. In the event that the Conditions are not fulfilled or, where waiver or
adjustment is permitted, not waived or adjusted, Dematerialised Shareholders
are reminded that because the Offer is conditional, if they notify their
CSDPs or brokers, as the case may be, of their acceptance of the Offer in
anticipation of the Conditions being fulfilled or, where waiver or adjustment
is permitted, waived or adjusted, they will not be able to trade their M&R
Shares from the date they notify their CSDPs or brokers, as the case may be,
of their acceptance of the Offer until the date the contract of sale and
purchase contemplated by the Offer does not come into effect due to the
Conditions not being fulfilled or, where waiver or adjustment is permitted,
not waived or adjusted.
10. In the event that the Conditions are not fulfilled or, where waiver or
adjustment is permitted, not waived or adjusted, Certificated Shareholders
are reminded that because the Offer is conditional, if they surrender their
Documents of Title and accept the Offer in anticipation of the Conditions
being fulfilled or, where waiver or adjustment is permitted, waived or
adjusted, they will not be able to trade their M&R Shares from the date they
surrender their Documents of Title until the date the contract of sale and
purchase contemplated by the Offer does not come into effect due to the
Conditions not being fulfilled or, where waiver or adjustment is permitted,
not waived or adjusted.
11. Offerees are advised that should they notify their CSDPs or brokers, as the
case may be, of their acceptance of the Offer, in the case of Dematerialised
Shareholders, or should they surrender Documents of Title and accept the
Offer, in the case of Certificated Shareholders, for their Offer Shares on
or before the Closing Date, or any revised Closing Date, they are not
permitted to sell or trade their Offer Shares until the date the contract of
sale and purchase contemplated by the Offer does not come into effect due to
the Conditions not being fulfilled or, where waiver or adjustment is
permitted, not waived or adjusted and, in the case of Certificated
Shareholders, the Documents of Title are returned.
12. The Offer Consideration due to Dematerialised Shareholders will be credited
to their accounts with their CSDPs or brokers within the Offer Payment Period.
13. The Offer Consideration due to Certificated Shareholders will be settled
either by cheque(s), posted by registered post to the Certificated
Shareholders concerned, at their risk, or, if a Certificated Shareholder has
elected to receive the Offer Consideration by way of an EFT by completing
the relevant section of the form of acceptance, transfer and surrender (pink),
by way of EFT, in either case, within the Offer Payment Period.
14. M&R Shares may not be Dematerialised or rematerialised between commencement
of trade on the Ex-date to the Record Date, both dates inclusive.
ATON will release a detailed timetable as part of the finalisation announcement,
once all Conditions Precedent have been fulfilled or waived, if applicable.
RESPONSIBILITY STATEMENT
The ATON board accepts responsibility for the information contained in this
announcement, accepts full responsibility for the accuracy of such information
and certifies that, to the best of its knowledge and belief, the information
contained in this announcement is true and nothing has been omitted which is
likely to affect the importance of the information.
Sandton
27 June 2019
Financial advisor to ATON
Macquarie
Legal advisor to ATON
Bowmans
THE OFFER IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR BY USE OF THE
MAILS OF, OR BY ANY MEANS OR INSTRUMENTALITY (INCLUDING, WITHOUT LIMITATION,
TELEPHONICALLY OR ELECTRONICALLY) OF INTERSTATE OR FOREIGN COMMERCE OF, OR ANY
FACILITY OF THE NATIONAL SECURITIES EXCHANGES OF ANY JURISDICTION IN WHICH IT IS
ILLEGAL OR OTHERWISE UNLAWFUL FOR THE OFFER TO BE MADE OR ACCEPTED, INCLUDING
(WITHOUT LIMITATION) AUSTRALIA, CANADA, JAPAN AND THE UNITED STATES (ANY SUCH
JURISDICTION, A “RESTRICTED JURISDICTION”), AND THE OFFER C ANNOT BE ACCEPTED BY
ANY SUCH USE, MEANS, INSTRUMENTALITY OR FACILITY OR FROM WITHIN A RESTRICTED
JURISDICTION. ACCORDINGLY, NEITHER COPIES OF THE OFFER CIRCULAR NOR ANY RELATED
DOCUMENTATION ARE BEING OR MAY BE MAILED OR OTHERWISE DISTRIBUTED OR SENT IN OR
INTO OR FROM A RESTRICTED JURISDICTION, AND IF RECEIVED IN ANY RESTRICTED
JURISDICTION, THE OFFER CIRCULAR SHOULD BE TREATED AS BEING RECEIVED FOR
INFORMATION PURPOSES ONLY.
Date: 27/06/2019 09:25:00 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
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
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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