Wrap Text
Finalisation announcement: unbundling of Zeda by Barloworld and separate listing of Zeda on JSE.
BARLOWORLD LIMITED
Incorporated in the Republic of South Africa
Registration Number: 1918/000095/06
Share code: BAW ISIN: ZAE000026639
Share code: BAWP ISIN: ZAE000026647
Bond issuer code: BIBAW
“Barloworld”
FINALISATION ANNOUNCEMENT: UNBUNDLING OF ZEDA LIMITED (“ZEDA”) BY BARLOWORLD LIMITED (“BARLOWORLD”) AND SEPARATE
LISTING OF ZEDA ON THE MAIN BOARD OF THE JSE LIMITED (“JSE”)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS ANNOUNCEMENT OR WOULD REQUIRE FURTHER ACTION FOR SUCH PURPOSE
Shareholders are referred to the announcement published by Barloworld on SENS on Monday, 21 November 2022, advising of the Barloworld board of directors’
(the Board) decision to unbundle and separately list the entire ordinary share capital of Zeda (the Listing), a wholly-owned subsidiary of Barloworld, which
currently houses Barloworld’s investment in its car rental and vehicle leasing business (the Unbundling). Zeda trades under the market leading “Avis” and
“Budget” brands in South Africa and 10 other sub-Saharan African countries.
Unless otherwise defined, terms used in this announcement are as defined in the announcement published by Barloworld on Monday, 21 November, 2022.
The JSE has granted Barloworld and Zeda approval for the Listing under the abbreviated name “Zeda”, share code ZZD and ISIN ZAE000315768, subject to
Zeda obtaining the requisite spread of shareholders as required by JSE Listings Requirements, with the Listing taking place with effect from the commencement
of business on Tuesday, 13 December, 2022.
Further information regarding Zeda, the Unbundling and the Listing is set out in an abridged pre-listing announcement released by Zeda on SENS today (Monday,
28 November, 2022) and in a pre-listing statement (the Pre-Listing Statement) published by the Zeda board of directors today (Monday, 28 November 2022).
The Pre-Listing Statement is also accessible on Barloworld’s website at https://www.barloworld.com/investors/sens/ and Zeda’s website at www.zeda.co.za. In
addition to the financial information included in the Pre-Listing Statement, and in order to provide Barloworld shareholders with the most current financial
information available in respect of Zeda, Zeda has published, simultaneously with the publication of the Pre-Listing Statement, reviewed condensed consolidated
financial statements for the year ended 30 September 2022. The reviewed condensed consolidated financial statements for the year ended 30 September 2022
are available on Zeda’s website: www.zeda.co.za.
Set out below is the timetable for implementation of the Unbundling and the Listing:
2022
Last day to trade for Barloworld Ordinary Shareholders to be entitled to participate in the Unbundling Monday, 12 December
Listing of Zeda Distribution Shares on the JSE under the share code ZZD and ISIN ZAE000315768 at Tuesday, 13 December
commencement of trade
Barloworld Ordinary Shares commence trading “ex” entitlement to Zeda Distribution Shares Tuesday, 13 December
Announcement of specified ratio in respect of apportionment of costs/base costs of Zeda Distribution by 11:00 on Wednesday, 14 December
Shares for taxation/CGT purposes released on SENS
Unbundling Record Date to receive JSE-listed Zeda Distribution Shares pursuant to the Unbundling 17:00 on Thursday, 15 December
Publish the closing prices of Barloworld Ordinary Shares and Zeda Shares after market close on SENS Thursday, 15 December
Unbundling Operative Date, being the date on which JSE-listed Zeda Distribution Shares are unbundled to Monday, 19 December
Barloworld Ordinary Shareholders
Barloworld Ordinary Shareholders’ CSDP and/or Broker Accounts expected to be updated and credited with Monday, 19 December
JSE-listed Zeda Distribution Shares
Notes:
1. All references to times shown in this announcement are to South African standard time.
2. There may be no rematerialisation or dematerialisation of Barloworld Ordinary Shares between Tuesday, 13 December, 2022 and Thursday, 15 December, 2022, both days inclusive.
28 November 2022
Corporate and Transaction Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Financial Advisor to Barloworld
Goldman Sachs International
Legal Advisor to Barloworld and Zeda
Bowmans
Enquiries:
Nwabisa Piki
Group Investor Relations Tel: +27 64 880 6872
E-mail: nwabisap@barloworld.com
Date: 28-11-2022 07:06:00
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