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VERIMARK HOLDINGS LIMITED - Proposed delisting of Verimark and cautionary announcement

Release Date: 22/10/2018 07:13
Code(s): VMK     PDF:  
 
Wrap Text
Proposed delisting of Verimark and cautionary announcement

Verimark Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1998/006957/06
JSE share code: VMK
ISIN number: ZAE000068011
("Verimark" or "the Company")


PROPOSED DELISTING OF VERIMARK AND CAUTIONARY ANNOUNCEMENT


Shareholders are advised that the Company has received notice
from its controlling shareholder, the Van Straaten Family
Trust, of its conditional, non-binding intention to acquire
the minority interests in the Company (“the minority
shareholders”) and thereafter apply for its delisting from the
JSE Limited (“the JSE”) (“the proposal”).

The proposal is subject to implementation by way of a scheme
of arrangement in terms of section 114 of the Companies Act No
71 of 2008, as amended. The board of directors of Verimark has
established an Independent Board, comprising of Mesdames M
Kabi, NP Gosa and AT Nzimande to consider the terms of the
proposal.

The proposal, if successfully concluded, may have a material
effect on the price at which the Company's securities trade on
the JSE. Shareholders are accordingly advised to exercise
caution when dealing in the Company's securities until a
further announcement is made.

Johannesburg

22 October 2018

Sponsor: Grindrod Bank Limited

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