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

ADCORP HOLDINGS LIMITED - Results of the Odd-lot Offer

Release Date: 25/03/2024 15:56
Code(s): ADR     PDF:  
Wrap Text
Results of the Odd-lot Offer

(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
("Adcorp" or "the Company")


1.     Introduction

1.1.      Shareholders are referred to the circular distributed to shareholders on Monday, 29 January 2024
          ("Circular"), containing the details of the odd-lot offer to all shareholders holding less than 100
          (one hundred) ordinary shares in the Company ("Odd-lot Offer") and to the finalisation
          announcement released on Tuesday, 5 March 2024, which advised shareholders of the Odd-Lot
          Offer price and confirmed that the Odd-lot Offer had become unconditional and that the Company
          would accordingly proceed with the implementation of the Odd-lot Offer.

1.2.      Unless otherwise defined herein, capitalised words and terms contained in this announcement
          shall bear the meanings ascribed thereto in the Circular.

2.     Results of the Odd-lot Offer

2.1.      Shareholders are hereby advised that the Odd-lot Offer closed at 12:00 on Friday, 22 March 2024
          and the results thereof are as follows:

                                Number of            Number of          Number of              Total number
                                Adcorp Shares        Adcorp Shares      Adcorp Shares          of Adcorp
                                retained by          sold by            sold by default¹       Shares
                                election             election                                  repurchased
                                                                                               by the
                                                                                               pursuant to the
                                                                                               Odd-lot Offer

           Certificated                    -                  -                 7 405                    7 405

           Dematerialised              4 938              52 004               14 292                   66 296

           Total                       4 938              52 004               21 697                   73 701

          1. In terms of the Odd-lot Offer, Odd-lot Holders who did not make an election were
             automatically deemed to have agreed to dispose of their Odd-lot Holdings to Adcorp and
             to receive the Odd-lot Consideration in respect thereof.

2.2.      In terms of the Odd-lot Offer, Adcorp repurchased a total of 73 701 Adcorp Shares, representing
          0.07% of the total issued ordinary share capital of Adcorp, from 6 955 Odd-lot Holders for a total
          Odd-lot Consideration of R295 797.84.

2.3.      The Adcorp Shares repurchased by the Company in terms of the Odd-lot Offer will be cancelled
          and delisted on or about Thursday, 28 March 2024, and accordingly, the total issued ordinary share
          capital of Adcorp will be reduced from 109 954 675 to 109 880 974 Adcorp Shares.

3.   Salient Dates and Times

     Shareholders are reminded of the following remaining Salient Dates and Times in relation to the Odd-
     lot Offer:

      Payment of the Odd-lot Consideration to Certificated Odd-lot Holders who           Monday, 25 March
      have accepted the Odd-lot Offer or who have made no election
      Dematerialised Odd-lot Holders who have accepted the Odd-lot Offer or              Monday, 25 March
      who have made no election will have their accounts at their CSDP or
      Broker credited with the Odd-lot Consideration
      Results of the Odd-lot Offer published in the South African press on or           Tuesday, 26 March
      Delisting and cancellation of Adcorp Shares repurchased in terms of the          Thursday, 28 March
      Odd-lot Offer on or about

25 March 2024

Corporate Advisor and Sponsor
Valeo Capital (Pty) Limited

Date: 25-03-2024 03:56:00
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