VUNANI LIMITED - Finalisation announcement relating to the odd-lot offer and specific offer

Finalisation announcement relating to the odd-lot offer and specific offer

VUNANI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/020641/06)
JSE code: VUN
ISIN: ZAE000163382
(“Vunani” or “the Company”)


FINALISATION ANNOUNCEMENT RELATING TO THE ODD-LOT OFFER AND SPECIFIC
OFFER

1. Introduction

Shareholders are referred to the circular dated 21 September 2018 and the SENS
announcements dated 21 September 2018 and 23 October 2018, and using the
definitions contained therein, are hereby advised that the board of directors of
Vunani has finalised the pricing in respect of the Odd-lot Offer and the Specific
Offer, which has been set out below.

2. Offers Prices

The Offer Price for both the Odd-lot Offer and the Specific Offer is R2.75 which
represents a premium of 31% above the 30 day VWAP as at the Last Practicable Date
of R2.10. The Last Practicable Date was Thursday, 13 September 2018.

Shareholders who elect or are deemed to have elected to participate in the Odd-lot
Offer or have elected to participate in the Specific Offer, will receive an amount
equal to the product of the Offer Price multiplied by the number of Vunani Shares
held by them on the Record Date.

3. Dividends tax

Shareholders who have elected or are deemed to have elected the Odd-lot Offer or
have elected to participate in the Specific Offer and:

3.1 are exempt from dividends tax will receive a gross Offer Price of R2.75000; or

3.2 are not exempt from dividends tax will receive a net Offer Price of R2.20000
    after accounting for and withholding dividends tax equivalent to 20% of the
    gross Offer Price.


4. IMPLEMENTATION OF THE OFFERS

The Offers have been declared unconditional and salient dates and times and all
other information relating thereto as disclosed in the circular to shareholders,
dated 21 September 2018, remain unchanged.

Shareholders are however reminded that the Offers close at 12:00 on Friday, 23
November,2018.

Sandton
8 November 2018

Corporate Adviser
Vunani Corporate Finance

Designated Adviser
Grindrod Bank Limited

Date: 08/11/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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