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Fairvest - cash payment for fractional entitlement
Shareholders are referred to the Circulars relating to the proposed merger between Fairvest Property Holdings and Arrowhead (the Transaction) by way of a scheme of arrangement (the Scheme), proposed by Fairvest Property Holdings to its shareholders (the Scheme Participants), and the joint finalisation announcement published on 18 January 2022 confirming that all outstanding conditions precedent to the Transaction have been fulfilled and the Transaction is now wholly unconditional.
As set out in the Circulars, the consideration payable to the Scheme Participants in terms of the Scheme is 0.54054 Arrowhead B ordinary shares (which, since the implementation of the name change from Arrowhead Properties Ltd. to Fairvest Ltd., will be 0.54054 Fairvest Ltd. B ordinary shares (FTB Shares)) for every Fairvest Property Holdings ordinary share in issue (Scheme Consideration). Where the Scheme Consideration results in the Scheme Participant becoming entitled to a fraction of an FTB Share, such fractional entitlement will be rounded down to the nearest whole number, resulting in allocations of whole shares and a cash payment for the fraction.
Scheme Participants are advised the value of an FTB Share to be utilised in determining the fractional cash payment due to Scheme Participants is R3.15277 being the volume weighted average traded price of a FTB Share on the JSE on Wednesday, 26 January 2022, discounted by 10%.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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