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EPP - results of Redefine offer
EPP shareholders are referred to the previous announcements released on SENS (the last of which was released on 3 March 2022) and the circular issued to shareholders dated 17 December 2021 (the "circular") relating to, inter alia, (i) the proposed termination of the listing of EPP from the main board of the JSE and the official list of the Luxembourg Stock Exchange ("LuxSE") and the approval of a delisting resolution in terms of paragraph 1.15(a) of the JSE Listings Requirements (the "delisting"), (ii) a general offer by Redefine Properties Ltd. ("Redefine") to acquire all EPP shares that it does not already own (other than those held by I Group Consolidated Holdings (Pty) Ltd. and its subsidiaries (collectively "I Group") and any EPP shareholders who are unable to accept the Redefine offer) in exchange for Redefine shares at a swap ratio of 2.70 Redefine shares per EPP share acquired (the "Redefine offer"), and (iii) the specific repurchase of 74 993 917 EPP shares held by I Group in exchange for shares in EPP Community Properties (the "I Group EPP share repurchase").
EPP shareholders are advised that the Redefine offer closed at 12:00 (SA time) on Friday, 4 March 2022. The Redefine offer was accepted in respect of 381 651 727 EPP shares, representing 90.79% of all EPP shares in issue (excluding those EPP shares held by Redefine and I Group). Following the implementation of the Redefine offer and the I Group EPP share repurchase, Redefine will hold 794 220 512 EPP shares, representing 95.35% of EPP shares in issue.
The listing of EPP shares on the main board of the JSE and the official list of the LuxSE will be terminated at the commencement of trade on Tuesday, 8 March 2022.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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