Procedural update on the proposed transaction
SHOPRITE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration no. 1936/007721/06
JSE share code: SHP
NSX share code: SRH
LuSE share code: SHOPRITE
(“Shoprite Holdings” or “the Company”)
PROCEDURAL UPDATE ON THE PROPOSED TRANSACTION
Shoprite Holdings’ ordinary shareholders (“Shareholders”) are referred to the detailed
terms announcement, which incorporated a firm intention announcement, released on the
stock exchange news service operated by the JSE Limited (“JSE”) on 18 April 2019
(“Detailed Terms Announcement”) relating to the Company’s consideration of a potential
acquisition and cancellation of all the Shoprite Holdings deferred shares (“Proposed
It is Shoprite Holdings’ intention to post one circular to Shareholders relating to the
Proposed Transaction which will incorporate both the requirements of the Listings
Requirements of the JSE and the applicable Regulations issued under the Companies Act,
No 71 of 2008, as amended (“Regulations”) (“Circular”). As noted in the Detailed Terms
Announcement, it is envisaged that a Circular incorporating a notice of General Meeting
containing further information in relation to the Proposed Transaction will be posted to
Shareholders on or about 27 May 2019, subject to the outcome of engagement with
Shoprite Holdings’ major other Shareholders.
In order to post the Circular on or about 27 May 2019, being more than 20 business days
after the Detailed Terms Announcement, the Takeover Regulation Panel, established in
terms of section 196 of the Companies Act, is required to and has granted the Company
an extension to post the Circular on or about 27 May 2019, but by no later than 14 June
2019, as requested by the Company.
PG DU PREEZ
On behalf of the board of directors of Shoprite Holdings
Date issued: 22 May 2019
Financial Advisor and Transaction Sponsor to Shoprite Holdings: Investec Bank Limited
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