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Informative Notice – 20210628 Prosus Exchange Offer for Naspers - Informative Notice
Prosus (South Africa): Exchange Offer for Naspers (South Africa)
Informative Notice
28 June 2021
FTSE/JSE notes the voluntary Exchange Offer made by Prosus (South Africa, PRX, NL0013654783) to
Naspers’ shareholders (South Africa, NPN, ZAE000015889). Naspers’ shareholders are being offered
2.27443 newly issued Prosus shares for every Naspers share held, conditional on a minimum acceptance
rate of 45.4%, and subject to pro-ration in the event the Exchange Offer is over-subscribed. The
transaction is subject to Prosus’ shareholder approval at an EGM on Friday 09 July 2021.
Subject to regulatory approval and based on the current timetable, FTSE/JSE anticipates the following
treatment:
Monday 12 July 2021:
The Exchange Offer opens for acceptance.
Wednesday 11 August 2021:
Naspers trades ex-entitlement to participate in the Exchange Offer.
Friday 13 August 2021:
The Exchange Offer closes for acceptance.
Upon receipt of the results, confirmation that the transaction is unconditional and relevant Strate register
information, FTSE/JSE will announce the index changes occurring as a result of the Exchange Offer. If
successful, a free float decrease will be applied to Naspers resulting in a down-weight within its market
capitalisation weighted index memberships. Concurrently, a shares in issue increase and free float change
will be applied in Prosus, resulting in a corresponding up-weight within its market capitalisation weighted
index memberships. The changes will be applied using market prices, and will be implemented with two
days’ notice.
Within non-market capitalisation weighted indexes, the changes in both Naspers and Prosus will be
neutralised, resulting in no change in notional market capitalisation.
Within the applicable capped indices, no intra-quarter capping will be implemented in accordance with the
FTSE/JSE Africa Index Series Ground Rules.
FTSE/JSE will issue further notices in due course.
For further information please contact FTSE Russell Client Services at info@ftserussell.com or call:
Australia +1800 653 680
Hong Kong +852 2164 3333
Japan +81 3 4563 6346
London +44 (0) 20 7866 1810
New York +1866 551 0617
Alternatively please visit our website at www.ftserussell.com
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Date: 28-06-2021 05:40:00
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