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TELEMASTERS HOLDINGS LIMITED - Finalisation of Fairness Opinion - Related Party Acquisitions of Contineo and Perfectworx

Release Date: 13/07/2020 15:13
Code(s): TLM     PDF:  
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Finalisation of Fairness Opinion - Related Party Acquisitions of Contineo and Perfectworx

TELEMASTERS HOLDINGS LIMITED
(Registration Number: 2006/015734/06)
JSE Code: TLM ISIN: ZAE 000093324
(“TeleMasters” or “the Company”)


FINALISATION OF FAIRNESS OPINION - RELATED PARTY ACQUISITIONS OF CONTINEO VIRTUAL
COMMUNICATIONS (PTY) LTD (“CONTINEO”) AND PERFECTWORX CONSULTING (PTY) LTD
                                   (“PERFECTWORX”)


Shareholders are referred to the announcement released on SENS on 29 June 2020 in which
they were advised that the Company has entered into two separate but indivisible agreements
in terms of which it will acquire, with effect from 1 July 2020, the entire shareholding in and
claims against Contineo and Perfectworx (together, the “Acquisitions”) and of the
appointment of AcaciaCap Advisors (Pty) Ltd t/a Arbor Capital Sponsors (“Arbor Capital”) as
the Independent Expert with regard to the provision of a fairness opinion in relation to the
Acquisitions (“Fairness Opinion”).

Arbor Capital has concluded and confirmed to the Board of TeleMasters that the terms of the
Acquisitions are fair as far as shareholders are concerned, and, in this regard, a copy of such
Fairness Opinion has been provided to the JSE Limited (“JSE”). As required in terms of
paragraph 10.7(c) of the JSE Listings Requirements, the Fairness Opinion will be available for
inspection at the registered office of TeleMasters at Building 2, ATT House, Maxwell Office Park,
Magwa Crescent, Waterfall City, for a period of 28 days from the date of this announcement.

13 July 2020
Midrand

Designated Advisor
Arbor Capital Sponsors

Date: 13-07-2020 03:13:00
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