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Ascen A - fractional entitlements
Ascen A shareholders are referred to the various announcements released on SENS regarding the firm intention of Rebosis to make an offer to acquire all of the Ascen A shares in exchange for 19.34236 Rebosis A ordinary shares for every 100 Ascension A shares held, by scheme of arrangement in terms of section 114 of the Companies Act, 71 of 2008, between Ascen A shareholders (the “A share scheme”), the last of which was released on SENS on 6 April 2017.
In implementing the Ascen A share scheme, Rebosis is required by the JSE to apply the rounding principle that a shareholder becoming entitled to a fraction of a share arising from the A share scheme (“fractional entitlement”) will be rounded down to the nearest whole number, resulting in the allocation of whole new Rebosis A ordinary shares and a cash payment for the fraction (the “cash payment”). The value of such cash payment will be the volume weighted average traded price per Rebosis A ordinary share less 10% on the first day of trade after the last day to trade in order to participate in the A share scheme, which will be announced on SENS on the second day of trade after the last day to trade in order to participate in the Ascension A share scheme. In accordance with the guidance letter issued by the JSE on 19 February 2016 regarding fractional entitlements, where shares in an issuer company have not traded the cash value will be nil and there will be no cash payment.
Ascen A shareholders are advised that there was no trade in Rebosis A ordinary shares on Wednesday, 19 April 2017 and accordingly no cash payment for fractional entitlements will be made to Ascen A shareholders.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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