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Sharenet Sites
Cautionary Annoucement
Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1997/002203/06
Share code: VLE
ISIN code: ZAE000016507
(“Value Group” or “the Company”)
CAUTIONARY ANNOUNCEMENT
Trading in Value Group’s Ordinary shares has been characterised by
extremely low liquidity. This is due to its tightly held strategic and
controlling shareholding which has deterred potential institutional
investor interest in the Company’s shares. In recent years, share trading
statistics reflect Value Group’s wholly-owned subsidiary, Value Logistics
Limited, through its general repurchase programs, as the only meaningful
source of liquidity available to shareholders wishing to trade their shares.
In the context of the above, and given the substantial costs associated
with a listing on the JSE, the Board is considering the potential delisting
of the Company’s shares from the JSE on the basis that the delisting would
be accompanied by a cash offer of R6.75 per Ordinary share (“the
Proposed Transaction”) which represents a 49.7% premium to the 30 day
VWAP at 17 February 2021 being R4.51 per Ordinary share.
Through a limited wall cross process, Value Group have to date received
letters of support from minority shareholders representing 42.2% of
shares eligible to vote at the General Meeting required to implement the
Proposed Transaction.
Shareholders are advised to exercise caution when dealing in the
Company’s shares until a further announcement is made.
Johannesburg
18 February 2021
Sponsor:
Investec Bank Limited
Date: 18-02-2021 01:39:00
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