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MONTAUK HOLDINGS LIMITED - Proposed listing on the NASDAQ and inward listing on the JSE

Release Date: 14/10/2020 14:55
Code(s): MNK     PDF:  
Wrap Text
Proposed listing on the NASDAQ and inward listing on the JSE

MONTAUK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2010/017811/06)
(Share code: MNK & ISIN: ZAE000197455)
("MNK" or "the Company")

PROPOSED LISTING ON THE NASDAQ AND INWARD LISTING ON THE JSE

Shareholders are referred to the SENS announcement dated 31 October 2018 where the Company
advised that it had received approval from the South African Reserve Bank to pursue a listing on
the Nasdaq Stock Market (“NASDAQ” with a secondary inward listing on the JSE Limited “JSE,”
the “Proposed Listing”) and the subsequent postponement of the Proposed Listing announced on
5 February 2019.

The Company believes that conditions are now favorable to implement the Proposed Listing. As
previously contemplated the Proposed Listing will follow a corporate restructure with a new
holding company, Montauk Renewables, Inc. (“Montauk Renewables”), which will ultimately
hold the business and assets of the Company. Shareholders of the Company will receive shares in
Montauk Renewables by way of a distribution in specie.

The Company’s target date for the Proposed Listing is early 2021 and is subject to shareholder and
regulatory approvals. The full details of the Proposed Listing will be provided to shareholders in
due course. Following the implementation of the Proposed Listing, it is intended that the Company
will be delisted from the JSE.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any
securities. Any offers, solicitations of offers to buy, or any sales of securities will be made in
accordance with the registration requirements of the Securities Act of 1933, as amended, and other
applicable securities laws.

Cape Town
14 October 2020

Financial advisor and Sponsor
Investec Bank Limited

Legal advisor
ENSafrica

Date: 14-10-2020 02:55:00
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