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KayDav - scheme and delisting update
KayDav shareholders are referred to the finalisation announcement (the “finalisation announcement”) released on SENS released on 5 February 2020 where shareholders were advised, inter alia, of the tax implications for KayDav shareholders who elect to receive the cash consideration in respect of the scheme of arrangement and delisting.
Shareholders are advised that the same apportionment between contributed tax capital and reserves and subsequent tax treatment will apply to shareholders who elect to receive the note consideration as shareholders who elect to receive the cash consideration, as detailed in the finalisation announcement.
The tax treatment for KayDav shareholders participating in the scheme is dependent on the individual circumstances and jurisdiction of such KayDav shareholders. It is recommended that if KayDav shareholders are uncertain about the tax treatment of the receipt of the cash consideration, they seek appropriate advice in this regard.
The independent board and KayDav board (to the extent that the information relates to KayDav) collectively and individually accept responsibility for the information contained in this announcement and certify that, to the best of their knowledge and belief, the information contained in this announcement relating to KayDav is true and this announcement does not omit anything that is likely to affect the import of such information.
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