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LIBERTY HOLDINGS LIMITED - Finalisation of Fairness Opinion - Small Related Party Transaction

Release Date: 02/09/2019 15:45
Code(s): LBH     PDF:  
 
Wrap Text
Finalisation of Fairness Opinion - Small Related Party Transaction

LIBERTY HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number 1968/002095/06
ISIN code: ZAE000127148
Alpha Code LBH
("Liberty Holdings" or “Company”)

FINALISATION OF FAIRNESS OPINION - SMALL RELATED PARTY TRANSACTION

Shareholders of Liberty Holdings (“Shareholders”) are referred to the Company
announcement, released on the Stock Exchange News Service on 31 July 2019,
which advised Shareholders that the Company had entered into a Share Purchase
Agreement with Stanbic Africa Holdings Limited ("SAHL"), a wholly owned
subsidiary of Standard Bank Group Limited (“SBG”) to dispose of 100% of its
shares in STANLIB Ghana Limited ("SGL") ("the Transaction") to SAHL, and the
appointment of Ernst & Young Advisory Services (Pty) Limited (“EY”), as the
Independent Expert with regards to the provision of a fairness opinion in
relation to the Transaction.

EY has concluded and confirmed to the Related Party Committee, an authorised
sub-committee of the Board of Liberty Holdings that the terms of the
transaction are fair as far as the Shareholders, other than SBG, are
concerned, and in this regard a copy of such fairness opinion has been
provided to the JSE. As required in terms of paragraph 10.7(c) of the JSE
Limited Listings Requirements, the fairness opinion will lie open for
inspection at the registered offices of Liberty Holdings at 1 Ameshoff
Street, Braamfontein Johannesburg for a period of 28 days from the date of
this announcement.

2 September 2019

Sponsor
Merrill Lynch South Africa (Pty) Limited

Date: 02/09/2019 03:45:00
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