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MASONITE (AFRICA) LIMITED - Masonite transaction approval by the competition commission

Release Date: 29/06/2016 15:08
Code(s): MAS     PDF:  
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Masonite transaction approval by the competition commission

MASONITE (AFRICA) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1942/015502/06)
 Share code: MAS ISIN: ZAE000004289
   (“Masonite” or “the Company”)
        (Under supervision)



MASONITE TRANSACTION APPROVAL BY THE COMPETITION COMMISSION


Masonite shareholders (“Shareholders”) are referred to the announcement confirming the
adoption of Masonite’s business rescue plan (“Plan”) as released on the Stock Exchange News
Service (“SENS”) on 19 May 2016.

Masonite is pleased to notify Shareholders that the rescue transactions set out in the Plan are
now unconditional, and that the effective date of the rescue transactions will be 1 July 2016.

The closing date of the rescue transactions will be on registration of transfer of the forestry
properties comprising not less than 85% of the aggregate value of all the forestry properties.
Thereafter the first tranche payment will become payable to Shareholders.

In addition, Shareholders are referred to annexures BRP 13A and BRP 13B of the Plan which set
out the process to be followed by certificated and dematerialised Shareholders respectively. The
Plan can be found on Masonite’s website: www.masonite.co.za, under the business rescue tab.

Certificated Shareholders are required to surrender their documents of title in respect of all of their
shares in order to receive payment of the first tranche. To do so they are required to complete the
surrender and transfer form (contained in BRP 13A of the Plan) and return it, together with the
relevant documents of title, to Computershare. Irrespective of whether documents of title are
received from certificated Shareholders, they will be deemed to have transferred their shares to
Masonite in accordance with the terms of the share repurchase.

Dematerialised Shareholders will have their accounts at their CSDP or broker debited with their
shares and credited with the first tranche payment.

A further SENS announcement will be released with the quantum and timing of the first tranche
payment per share once it has been determined.

Durban
29 June 2016

Corporate Advisor
Investec Bank Limited

Sponsor
Nedbank Corporate and Investment Banking

Legal Advisors
Norton Rose Fulbright South Africa Inc.

Communication Advisors
Brunswick Group

Date: 29/06/2016 03:08:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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