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Results of the Odd-lot Offer
ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
("Adcorp" or "the Company")
RESULTS OF THE ODD-LOT OFFER
1. Introduction
1.1. Shareholders are referred to the circular distributed to shareholders on Monday, 29 January 2024
("Circular"), containing the details of the odd-lot offer to all shareholders holding less than 100
(one hundred) ordinary shares in the Company ("Odd-lot Offer") and to the finalisation
announcement released on Tuesday, 5 March 2024, which advised shareholders of the Odd-Lot
Offer price and confirmed that the Odd-lot Offer had become unconditional and that the Company
would accordingly proceed with the implementation of the Odd-lot Offer.
1.2. Unless otherwise defined herein, capitalised words and terms contained in this announcement
shall bear the meanings ascribed thereto in the Circular.
2. Results of the Odd-lot Offer
2.1. Shareholders are hereby advised that the Odd-lot Offer closed at 12:00 on Friday, 22 March 2024
and the results thereof are as follows:
Number of Number of Number of Total number
Adcorp Shares Adcorp Shares Adcorp Shares of Adcorp
retained by sold by sold by default¹ Shares
election election repurchased
by the
Company
pursuant to the
Odd-lot Offer
Certificated - - 7 405 7 405
Dematerialised 4 938 52 004 14 292 66 296
Total 4 938 52 004 21 697 73 701
Note:
1. In terms of the Odd-lot Offer, Odd-lot Holders who did not make an election were
automatically deemed to have agreed to dispose of their Odd-lot Holdings to Adcorp and
to receive the Odd-lot Consideration in respect thereof.
2.2. In terms of the Odd-lot Offer, Adcorp repurchased a total of 73 701 Adcorp Shares, representing
0.07% of the total issued ordinary share capital of Adcorp, from 6 955 Odd-lot Holders for a total
Odd-lot Consideration of R295 797.84.
2.3. The Adcorp Shares repurchased by the Company in terms of the Odd-lot Offer will be cancelled
and delisted on or about Thursday, 28 March 2024, and accordingly, the total issued ordinary share
capital of Adcorp will be reduced from 109 954 675 to 109 880 974 Adcorp Shares.
3. Salient Dates and Times
Shareholders are reminded of the following remaining Salient Dates and Times in relation to the Odd-
lot Offer:
2024
Payment of the Odd-lot Consideration to Certificated Odd-lot Holders who Monday, 25 March
have accepted the Odd-lot Offer or who have made no election
Dematerialised Odd-lot Holders who have accepted the Odd-lot Offer or Monday, 25 March
who have made no election will have their accounts at their CSDP or
Broker credited with the Odd-lot Consideration
Results of the Odd-lot Offer published in the South African press on or Tuesday, 26 March
about
Delisting and cancellation of Adcorp Shares repurchased in terms of the Thursday, 28 March
Odd-lot Offer on or about
Johannesburg
25 March 2024
Corporate Advisor and Sponsor
Valeo Capital (Pty) Limited
Date: 25-03-2024 03:56:00
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