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ARDEN CAPITAL LIMITED - Market Update on Unbundling, Liquidation and Delisting of Arden

Release Date: 17/01/2022 17:39
Code(s): ACZ     PDF:  
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Market Update on Unbundling, Liquidation and Delisting of Arden

Arden Capital Limited
(Incorporated in the Republic of Mauritius)
(Registration number: 115883 C1/GBL)
Share Code: ACZ
ISIN: MU0548S00026
(“Arden Capital” or “the Company”)

MARKET UPDATE ON UNBUNDLING, LIQUIDATION AND DELISTING OF ARDEN

The terms defined and used in the circular published and distributed to shareholders on Thursday, 18
November 2021 (“Circular”) have been used in this announcement.

Shareholders are referred to the announcement released by Arden Capital on SENS on 20 December
2021, wherein Shareholders were advised that the Conditions Precedent to the Proposed Transaction,
as contained in paragraph 5 of the Circular, remained outstanding. The outstanding Conditions
Precedent, specifically being the approval from the Reserve Bank of Zimbabwe (“RBZ”), was required
to be obtained by the Company by no later than 17 January 2022.

Shareholders are advised that Arden Capital remains in discussion with the RBZ for the approval of the
Proposed Transaction and accordingly this delay has resulted in the lapsing of the Conditions Precedent
long stop date as contained in the Circular and therefore the resolutions pertaining to the Arden
Unbundling and the Voluntary Liquidation is now void.

Shareholders are advised that the board of Arden Capital remains committed to the completion of the
Proposed Transaction. A further update will be in made in due course once the Company’s ongoing
engagement with the RBZ has been finalised.


Grand Baie, Mauritius
17 January 2022

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 17-01-2022 05:39:00
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