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WOOLWORTHS HOLDINGS LIMITED - Voluntary Announcement Relating to the Acquisition of Absolute Pets and the Fulfilment of Suspensive Conditions

Release Date: 03/04/2024 07:05
Code(s): WHL     PDF:  
Wrap Text
Voluntary Announcement Relating to the Acquisition of Absolute Pets and the Fulfilment of Suspensive Conditions

Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1929/001986/06
LEI: 37890095421E07184E97
Share code: WHL
Share ISIN: ZAE000063863
Bond Company code: WHLI


WHL shareholders ('Shareholders') are referred to the announcement released on 31 October 2023
wherein WHL announced its intention to acquire 93.45% of the shares in privately-owned pet retailer
Absolute Pets Proprietary Limited ('Absolute Pets'), from Sanlam Private Equity and Absolute Pets
management ('the Transaction'), with the remaining management-retained shareholding to be
acquired by WHL over an agreed period, post the completion of the Transaction.

The conclusion of the Transaction was subject to the fulfilment of both regulatory and commercial
suspensive conditions customary for a transaction of this nature, including the approval by the
competition authorities of South Africa.

Shareholders are advised that all suspensive conditions, including the requisite approval by the South
African Competition Tribunal, have been fulfilled and the Transaction is effective from 1 April 2024.
The Transaction falls below the threshold for categorisation in terms of the JSE Limited Listings
Requirements, and therefore, this announcement is made voluntarily.

Cape Town
3 April 2024

Financial Advisor
Translink Corporate Finance

Transactional Services Advisor
Deloitte South Africa

Legal Advisor
Webber Wentzel

Equity Sponsor and Debt Sponsor
Investec Bank Limited

Date: 03-04-2024 07:05:00
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