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PFB - finalisation announcement
Shareholders were referred to the announcement released on SENS on 5 May 2023 with regards to the distribution of the circular and convening a general meeting of the shareholders of PFB. In the circular, PFB Shareholders were advised that PFB had received a notification from Sekunjalo Investment Holdings (Pty) Ltd. of its firm intention to make an offer, as contemplated by the Takeover Regulations, to acquire the 15 976 380 ordinary shares of PFB it does not already own (and excluding those ordinary shares of PFB held by African Equity Empowerment Investments Ltd. and 3 Laws Capital South Africa (Pty) Ltd.), constituting 6.14% of the issued ordinary share capital of PFB by way of a scheme of arrangement in terms of section 114(1)(c) of the Companies Act, to be proposed by the PFB Board between PFB and the holders of PFB shares(“Transaction”).
Shareholders were advised that all the remaining Scheme Conditions have now been fulfilled and/or waived, as applicable. Accordingly, the Scheme has become unconditional with effect from Wednesday, 12 July 2023, and will be implemented on Monday, 31 July 2023.
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