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

SUN INTERNATIONAL LIMITED - Update regarding certain transactions and activities in LATAM

Release Date: 01/11/2019 17:01
Code(s): SUI     PDF:  
Wrap Text
Update regarding certain transactions and activities in LATAM

SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/007528/06)
Share code: SUI
ISIN: ZAE000097580
("Sun International" or “the Company”)

UPDATE REGARDING CERTAIN TRANSACTIONS AND ACTIVITIES IN LATAM

Proposed Merger between Sun Dreams S.A. (“Sun Dreams”) and certain Gaming Assets of Clairvest Chile Limitada
and Inversiones San Andres Limitada (collectively “Marina”)

Shareholders are referred to the announcements released by Sun International on the Stock Exchange News Service
on 24 May 2019, 18 July 2019, 27 August 2019 and 23 October 2019 respectively, regarding the proposed merger
between Sun Dreams and certain gaming assets of Marina (“the proposed merger”).

Shareholders are advised that the parties failed to conclude the proposed merger as envisaged in the Memorandum
of Understanding (“MOU”) by close of business on 31 October 2019 and consequently the MOU has lapsed.

The parties have agreed that they will continue to consider a potential merger which may result in a transaction at
a later stage, in which event shareholders will be advised accordingly.

Disposal by Sun International of 14.94% Equity Interest in Sun Dreams to Nueva Inversiones Pacifico Sur Limitada
(“Pacifico”)

Shareholders are referred to the announcement released by Sun International on the Stock Exchange News Service
on 30 April 2019 regarding the proposed disposal by Sun International of a 14.94% equity interest in Sun Dreams
to Pacifico.

Shareholders are advised that to date the parties have not yet received approval for the proposed disposal from
the Superintendencia De Casinos De Juego (“SCJ”), which is the Casino Regulator in Chile, by the long stop date of
31 October 2019. Sun International is engaging with Pacifico regarding an extension to this date.

Protests in Chile

Shareholders are referred to the recent protests which have taken place in Chile and which persist to date.

Regrettably, Sun Dreams properties are being negatively impacted by these protests, which have forced
management to limit operating hours and at times close certain of these operations. These disruptions have
impacted trading levels which have been running below normal levels for the past 12 days. There has also been
some damage to certain of Sun Dreams’ properties as a consequence of these protests.

Sun International continues to monitor the situation but envisages that these protests will have a negative effect
on Sun Dreams’ financial results for the year ending 31 December 2019.

Sandton
1 November 2019

Sponsor
INVESTEC BANK

Date: 01/11/2019 05:01:00
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.

Share This Story