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Voluntary announcement regarding JSE Investor Services
JSE LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2005/022939/06
Share Code: JSE
ISIN Code: ZAE000079711
LEI: 213800MZ1VUQEBWRFO39
(“JSE” or “the Group”)
VOLUNTARY ANNOUNCEMENT REGARDING JSE INVESTOR SERVICES
1. Acquisition of the minority stake in JSE Investor Services
Shareholders are referred to the voluntary announcement released on
the Stock Exchange News Service on 3 November 2020 regarding the
JSE’s acquisition of a 74.85% interest in Link Market Services South
Africa Proprietary Limited (“Link SA”) from Link Market Services
Limited, a company incorporated in Australia. Link SA has
subsequently been renamed JSE Investor Services Proprietary Limited
(“JIS”).
The JSE advises that an agreement has been concluded for the JSE to
acquire the remaining shareholding of 25.15% in JIS from the minority
shareholders for a cash consideration of R75.45m (the “Minority
Stake”). The consideration will be settled from the Group’s cash
reserves. The acquisition of the Minority Stake will allow the Group
to account for and manage the investment in JIS as sole owner.
Subject to the fulfilment of the remaining conditions precedent, the
acquisition of the Minority Stake is expected to close on or about
30 June 2021.
Iqbal Haniff remains as CEO of JIS until June 2022 and will be
available to the Group until June 2023.
In terms of the JSE Listings Requirements, the acquisition of the
Minority Stake is an uncategorised transaction.
2. Business arrangement with Investec Share Plan Services
The JSE is pleased to announce that an agreement has been concluded
for JIS to acquire a portion of the business of Investec Share Plan
Services Proprietary Limited (“ISPS”) (the “Business Arrangement”).
ISPS is a market-leading share plan administration business which
provides executive share scheme administration services to
approximately 90 listed clients and numerous B-BBEE schemes.
The Business Arrangement does not involve a cash consideration and
will take place through the transfer of staff and clients of ISPS
to JIS and the conclusion of a software licensing agreement between
JIS and ISPS.
The Business Arrangement allows JIS to extend its service offering
to issuers, diversify its revenues and enhance the quality of
earnings through annuity income derived from the administration of
a wide range of executive and B-BBEE share schemes.
Subject to the fulfilment of the remaining conditions precedent, the
Business Arrangement is expected to close on or about 31 July 2021.
In terms of the JSE Listings Requirements, the Business Arrangement
is an uncategorised transaction.
The information provided in this announcement has not been reviewed
or reported on by the Group’s external auditors.
Sandton
9 June 2021
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 09-06-2021 08:00:00
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