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AFRICAN RAINBOW CAPITAL INVESTMENTS LIMITED - Update regarding BKB

Release Date: 21/12/2018 07:30
Code(s): AIL     PDF:  
 
Wrap Text
Update regarding BKB

African Rainbow Capital Investments Limited
(Incorporated in the Republic of Mauritius)
(Registration number C148430)
JSE share code: AIL
ISIN: MU0553S00000
(“AIL” or “the Company” or “ARC Investments”)


UPDATE REGARDING BKB

ARC Investments released a quarterly update on the Stock Exchange News Service on 7 December
2018, which, inter alia, explained the status of the anticipated disposal of ARC Fund Partnership SA’s
(“ARC Fund”) interest in BKB to Acorn Agri & Food.

In terms of the ruling by the arbitrator, the ARC Fund issued a notice of first refusal to BKB, whereby
BKB would be entitled to acquire the BKB shares at R22 per share by no later than 27 December 2018.
Shareholders are advised that BKB has exercised its right of first refusal and has acquired the BKB
shares at R22 per share from the ARC Fund for a total consideration of R409.5 million. The
consideration has been settled in full.

The ARC Fund acquired the BKB shares from African Rainbow Capital Investments Limited at the time
of listing of ARC Investments for an amount of R220 million on 7 September 2017. The carrying value
of the BKB shares amounted to R415 million as at 30 June 2018.



Ebène, Mauritius (with simultaneous circulation in Johannesburg)
21 December 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)




For further information please contact:



JSE sponsor                                                      Company Secretary




Rand Merchant Bank, a division of FirstRand
Bank Limited

Tel: + +27 11 282 8231                                          Tel: +230 403 0800

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