General SENS Submitter Company - Informative Notice 20190613 Naspers Capitalisation Issue

Informative Notice – 20190613 Naspers Capitalisation Issue

                     Naspers (South Africa): Capitalisation Issue

                Informative Notice (FTSE/JSE Africa Index Series)

                                            13 June 2019

FTSE/JSE notes the forthcoming capitalisation issue in Naspers (South Africa, NPN, ZAE000015889)
whereby Naspers is divesting its international internet assets into a newly created entity which will be
incorporated in the Netherlands and listed on the Euronext Amsterdam with a secondary inward listing on
the Johannesburg Stock Exchange, with Naspers retaining a majority ownership in the NewCo (expected
to be at least 73%). Shareholders will automatically receive shares in NewCo on a one for one basis;
with an option to instead elect to receive additional Naspers shares at terms of 0.36986 for every
Naspers share currently held.

Subject to regulatory and shareholder approvals and based on the current timetable, FTSE/JSE
anticipates the following treatment:

Wednesday 17 July 2019 (from market open)

Naspers will trade ex-entitlement to participate in the Capitalisation issue. NewCo will be added into the
same indexes as Naspers (including the FTSE/JSE Top 40) based on the default terms of one for one and
at an estimated open price, with the event being market cap neutral.

NewCo will commence trading on the Johannesburg Stock Exchange.

Friday 19 July 2019 (midday)

The election period to elect the Naspers share alternative closes.

At the earliest, on Monday 22 July 2019 (at market close)

Further notices will be published confirming the update to NewCo shares in issue and investability weight
to incorporate the shares held by Naspers, and the decrease in index shares in accordance with the
election results. A concurrent shares in issue update will be applied to Naspers (to counter the decrease
in NewCo per election results).

For the indexes that have a fixed number of constituents, the indexes will be ranked using the closing
prices on Monday 22 July 2019, with the investible market capitalisation for Naspers and NewCo
determined on a forward looking basis, incorporating the index changes as a result of the elections, which
will be implemented providing two days’ notice.

At the earliest, on Thursday 25 July 2019 (from market open)

The index changes as a result of the elections and the ranking process (as notified prior) will become
effective.

FTSE/JSE will issue further notices in due course.



*NewCo will have the same capping factor as Naspers in the Capped indices.
For further information please contact FTSE Russell Client Services at info@ftserussell.com or call:

 Australia              +1800 653 680
 Hong Kong              +852 2164 3333
 Japan                  +81 3 4563 6346
 London                 +44 (0) 20 7866 1810
 New York               +1866 551 0617

 JSE Limited            +27 11 520 7000


Alternatively please visit our website at www.ftserussell.com

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