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SEBATA HOLDINGS LIMITED - Update on the Empowerment Transaction

Release Date: 18/10/2019 12:40
Code(s): SEB     PDF:  
Wrap Text
Update on the Empowerment Transaction

Sebata Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/003821/06)
Share code: SEB   ISIN: ZAE000260493
(“Sebata” or “the Company”)


UPDATE ON THE EMPOWERMENT TRANSACTION RELATING TO THE DISPOSAL OF THE
MAJORITY OF SEBATA’S SHAREHOLDING IN USC AND AMANZI


Shareholders are referred to the announcement released on SENS on 20 August 2019 (and using the terms
defined therein unless otherwise stated), wherein it was advised that Sebata has entered into Sale of Shares
Agreements, Donation Agreements and Shareholder’s Agreements with Inzalo for the disposal of 55% of the
total issued share capital in each of USC and Amanzi, and the donation of 5% of the total issued share
capital in each of USC and Amanzi to Inzalo, for an aggregate purchase consideration of R388 484 000
(“the Transaction”). The Transaction constitutes a Category 1 transaction in terms of the JSE Listings
Requirements.

The Transaction is subject to a number of conditions precedent, one of which is the obtaining of the approval
of the Board and the board of directors of MMG H2O. Following receipt of such approvals, the Board will
now move forward with obtaining the necessary regulatory and shareholder approvals.

Shareholders are advised that the JSE has provided the Company with dispensation from paragraph 9.20(b)
of the JSE Listings Requirements and an extension to 29 November 2019 in order to distribute the circular to
shareholders.


Johannesburg
18 October 2019

Corporate Adviser and Sponsor to Sebata
Merchantec Capital

Date: 18/10/2019 12:40:00
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