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CLOVER INDUSTRIES LIMITED - Extension of date for fulfillment of outstanding conditions precedent to the Clover Scheme

Release Date: 23/08/2019 17:00
Code(s): CLR     PDF:  
 
Wrap Text
Extension of date for fulfillment of outstanding conditions precedent to the Clover Scheme

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”)

EXTENSION OF DATE FOR FULFILLMENT OF OUTSTANDING CONDITIONS PRECEDENT TO THE CLOVER SCHEME

Shareholders are referred to the announcement released on the Stock Exchange News Service
(“SENS”) on 19 July 2019 (using the terms defined therein unless otherwise stated) in which they were
informed of the Competition Commission conditional approval recommendation to the Competition
Tribunal.

The decision from the Competition Tribunal following the hearing is taking longer than originally
anticipated. Accordingly, Milco SA and Clover have agreed to extend the date for fulfillment or waiver,
if applicable, of all the outstanding Conditions Precedent, from 23 August 2019 (200 days after
Signature Date) to 20 September 2019.

As soon as Clover and Milco SA have certainty on the fulfilment of the remaining Clover Scheme
conditions precedent, a joint finalisation announcement will be released on SENS, setting out the
remaining salient dates and times pertaining to the implementation of the Clover Scheme.

Johannesburg
23 August 2019

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

NSX Sponsor
MERCANTEC CAPITAL NAMIBIA PROPRIETARY LIMITED

Legal adviser to Clover
WERKSMAN

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

Financial adviser to The Central Bottling Company
HSBC

Legal adviser to Milco
ENS AFRICA

Independent Expert
PricewaterhouseCoopers Corporate Finance Proprietary Limited

Date: 23/08/2019 05:00:00
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