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Rare - finalisation announcement
Rare shareholders are referred to the joint circular issued by Rare and Mayfair Speculators (Pty) Ltd. (“Mayfair”) to Rare shareholders dated 25 July 2016 (“the Circular”) regarding Mayfair’s offer to acquire all the ordinary shares in Rare, excluding those ordinary shares held by Mayfair, Stafric Investment and Management Services (Pty) Ltd. and Doculate Investments (Pty) Ltd., being 5 345 825 ordinary shares (“the Scheme”).
The Scheme was approved by Rare shareholders on 24 August 2016.
Shareholders are further referred to the conditions precedent to the Scheme (“Scheme Conditions”), as detailed in the Circular, and are hereby advised that all Scheme Conditions have been fulfilled.
As a result of the Scheme becoming unconditional, the company wishes to draw shareholders’ attention to the following important dates in relation to the implementation of the Scheme. Terms appearing in title case below that are not otherwise defined bear the meanings assigned to them in the Circular.
The important dates and times relating to the Scheme are set out below.
- Scheme last day to trade expected on Tuesday, 20 September 2016
- Listing of Rare Shares suspended on the JSE from commencement of trade on Wednesday, 21 September 2016
- Scheme Consideration Record Date, being the date on which the Scheme Participants must be recorded in the Register in order to receive the Scheme Consideration, expected to be on Friday, 23 September 2016
- Operative Date of the Scheme on Monday, 26 September 2016
- Scheme Consideration to be paid/posted to Certificated Scheme Participants on Monday, 26 September 2016
- Dematerialised Scheme Participants expected to have their accounts (held at their CSDP or Broker) credited with the Scheme Consideration on or about Monday, 26 September 2016
- Termination of listing of Rare Shares on the JSE to take place at the commencement of trade on the JSE on Tuesday, 27 September 2016
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