To view the PDF file, sign up for a MySharenet subscription.

CLOVER INDUSTRIES LIMITED - Update on the Clover Scheme: replacement B-BBEE shareholder

Release Date: 26/07/2019 14:05
Code(s): CLR     PDF:  
 
Wrap Text
Update on the Clover Scheme: replacement B-BBEE shareholder

CLOVER INDUSTRIES LIMITED                                MILCO SA PROPRIETARY LIMITED
Incorporated in the Republic of South Africa             Incorporated in the Republic of South Africa
(Registration number : 2003/030429/06)                   (Registration number : 2018/610365/07)
JSE Ordinary Share code: CLR                             ("Milco SA")
NSX Ordinary Share code: CLN
ISIN: ZAE000152377
("Clover")


UPDATE ON THE CLOVER SCHEME: REPLACEMENT B-BBEE SHAREHOLDER

Shareholders are referred to the Stock Exchange News Service (“SENS”) announcements relating to
the acquisition by Milco SA of all the issued shares in Clover (“Clover Scheme”), the last of which was
released on SENS on 19 July 2019.

The boards of Clover and Milco SA are pleased to confirm that Brimstone Investment Corporation
Limited (“Brimstone”) has secured a suitable replacement broad-based black economic
empowerment investor (“Replacement B-BBEE Shareholder”) to acquire Brimstone’s interest in Milco
SA, in order to facilitate Brimstone’s exit from its participation in the Clover Scheme.

The Replacement B-BEE Shareholder is BEEMilk Proprietary Limited, an entity representing a
consortium of investors comprising Khulasande Capital Trust through its fund manager Khulasande
Capital III Proprietary Limited, Global Capital Empowerment Fund and Ubisi Proprietary Limited.


Johannesburg
26 July 2019

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

NSX Sponsor to Clover
Merchantec Capital Namibia

Financial adviser and investment bank to Milco SA
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Financial adviser to The Central Bottling Company
HSBC

Legal adviser to Clover
Werksmans

Legal adviser to Milco SA
ENS Africa

Date: 26/07/2019 02:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story