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Results Of The General Meeting
TISO BLACKSTAR GROUP SE
(Incorporated in England and Wales)
(Registration number SE000110)
(Registered as an external company with limited liability in the Republic of South Africa under
registration number 2011/008274/10)
JSE share code: TBG ISIN: GB00BF37LF46
(“Tiso Blackstar” or “the Company”)
RESULTS OF THE GENERAL MEETING
Shareholders are referred to the Company’s SENS announcement dated 20 September 2019 and the
announcements referred to therein (together, the “Transaction Announcements”), regarding the
proposed disposal of Tiso Blackstar’s South African media, broadcasting and content
assets, as well as its media, broadcasting and content assets in Ghana, Nigeria and Kenya and its
South African radio assets, by way of, respectively, the SA Sale, the Africa Radio Sale and the SA
Radio Sale (as such terms are defined in the applicable Transaction Announcements), to Lebashe
Investment Group (Pty) Ltd for a combined aggregate purchase consideration of ZAR 1 050 000 000,
subject to certain adjustments (collectively, the “Transaction”).
Shareholders are hereby advised that at the general meeting of the Company held at Berkeley Square
House, Berkeley Square, Mayfair, London, W1J 6BD, United Kingdom today, 23 October 2019 at
9:00 am Greenwich Mean Time (10:00 am South African Standard Time) (“GM”), all of the resolutions
were passed by the requisite majorities of the Company’s shareholders.
Details of the results of the voting at the GM are as follows:
Votes
Votes for against
resolution as resolution as Number of Number of
a percentage a percentage shares voted shares
of total of total at GM as a abstained as
number of number of Number of percentage a percentage
Resolutions proposed shares voted shares voted shares voted of shares in of shares in
at the GM at GM at GM at GM issue issue
Ordinary Resolution
Number 1: Approval of
the Transaction 100.00% 0.00% 237,195,745 86.22% 0.00%
Ordinary Resolution
Number 2: Extension of
vesting period 99.80% 0.20% 236,265,796 85.88% 0.34%
Special Resolution
Number 1: Approval of
capital reduction 100.00% 0.00% 237,195,745 86.22% 0.00%
Special Resolution
Number 2: Approval of
specific repurchase 99.80% 0.20% 235,919,485 85.75% 0.46%
Ordinary Resolution
Number 3: Authority of
directors 100.00% 0.00% 237,195,745 86.22% 0.00%
Note: Total number of shares in issue (net of treasury shares) as at the date of the GM was
275 113 830.
As indicated in Tiso Blackstar’s provisional condensed consolidated financial statements for the year
ended 30 June 2019, as announced on SENS on 21 October 2019, the Company’s board of directors
is confident that the outstanding conditions precedent to the Transaction will be successfully met. The
Transaction is in the final stages of completion and the board currently expects that the SA Sale and
the Africa Radio Sale will be successfully concluded during the month of November 2019, while it is
anticipated that the SA Radio Sale will be completed in April 2020, following approval by the
Independent Communications Authority of South Africa.
London
23 October 2019
Corporate Advisor and Sponsor
PSG Capital
Date: 23/10/2019 01:30:00
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