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Alviva - specific share repurchase
Shareholders are referred to Special Resolution 4 relating to Tranche 2 which was passed at the Annual General Meeting held on 21 November 2018. Shareholders are advised that all conditions as regards Tranche 2 have now been fulfilled and will be implemented on Monday, 10 December 2018. The 6 500 000 ordinary shares are expected to be delisted from the JSE Ltd. ("JSE") from the commencement of trading on the JSE on or about Tuesday, 11 December 2018.
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Alviva - B-BBEE transaction
On 2 August 2016, Alviva announced the conclusion of its B-BBEE transaction through its subsidiary DCT Holdings (Pty) Ltd. ("DCT Holdings"). Ledibogo (RF) (Pty) Ltd. ("Ledibogo"), had then subscribed for 29.93% of the ordinary issued shares in DCT Holdings.
As announced on 29 September 2017, following an independent valuation of the ordinary shares of DCT Holdings, Ledibogo, subscribed for a further 106 shares in DCT Holdings representing an additional effective 9.15 % shareholding. The subscription was funded by an interest free loan from DCT Holdings to be repaid out of future distributions received by Ledibogo from DCT Holdings.
Due to the termination of continued recognition from a previous B-BBEE transaction, the effective black ownership in DCT Holdings, as a result of the flow through from Alviva, has reduced to below 51%. Management consider it essential for transformation and business growth that the black ownership of DCT Holdings be maintained at above 51%.
Following an independent valuation of the ordinary shares of DCT Holdings, Ledibogo has now subscribed for a further 81 shares, representing an effective 9.08 % in DCT Holdings, which increases its total shareholding to 44.61% .The effective date of the transaction is 28 September 2018. The subscription of shares is funded by an interest free loan from DCT Holdings ("the loan"), to be repaid out of future distributions received from DCT Holdings. The subscription of shares and the loan collectively are below the categorisation thresholds of the JSE Listings Requirements.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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