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2019-07-29 11:23:00 AM
|AIP: AdBEE (RF) LIMITED - Termination of the Adcock Ingram BEE scheme|
AIP: AdBEE (RF) LIMITED - Termination of the Adcock Ingram BEE scheme Termination of the Adcock Ingram BEE scheme Adcock Ingram Holdings Limited AdBEE (RF) LIMITED (Registration number 2007/016236/06) (Registration number 2015/054070/06) (Incorporated in the Republic of South Africa) (Incorporated in the Republic of South Africa) Share code: AIP ISIN: ZAE000204897 ISIN: ZAE000123436 Share Code: ADE ("Adcock Ingram" or "the Company") ("AdBEE") TERMINATION OF THE ADCOCK INGRAM BEE SCHEME Adcock Ingram shareholders and securities holders of AdBEE are referred to the Stock Exchange News Service ("SENS") announcements issued by AdBEE and Adcock Ingram respectively on 31 May 2019 and 21 June 2019. As securities holders of AdBEE were advised, AdBEE did not initiate the process of extending the scheme and accordingly the scheme will come to an end today, 29 July 2019, being the "specified date" as defined in the circular to Adcock Ingram shareholders dated 28 May 2015 (the "Scheme Circular"), a copy of which is available on the Adcock Ingram website at http://www.adcock.com/Bee/Circulars. All terms in the Scheme Circular shall bear the same meaning when used herein. CALCULATED VALUE R72.00 OR LESS: CANCELLATION AB INITIO Adcock Ingram shareholders and AdBEE securities holders are advised that the calculated value of a scheme share on the specified date (being today, 29 July 2019) does not exceed the maximum price (being R72.00) and that, as advised in the announcement released on SENS on 21 June2019, Ad-izinyosi elected not to waive the Ad-izinyosi resolutive condition in respect of all the scheme shares. Accordingly, on the third business day (1 August 2019) after the specified date, the transaction, in its entirety, shall ipso facto be cancelled ab initio. Consequently, scheme shares (Adcock Ingram ordinary shares) will be returned to AdBEE securities holders in accordance with the terms of the scheme and in line with the salient dates and times set out below. SCHEME TERMINATION TIMETABLE The applicable timetable to the termination of the scheme, also published in the announcement released on SENS on 21 June 2019, is set out below: 2019 Specified date Monday, 29 July Last day to trade in order to be included in the AdBEE securities register in Monday, 29 July terms of scheme Suspension of trading of AdBEE securities Tuesday, 30 July The transaction, in its entirety, shall ipso facto be cancelled ab initio on the third Thursday, 1 August business day after the specified date Record date for the purpose of determining the securities register for AdBEE Thursday, 1 August securities holders Last day to determine the securities register on the specified date in terms of Friday, 2 August scheme Date of settlement by Ad-izinyosi to AdBEE of the Ad-izinyosi indebtedness Friday, 2 August Return of scheme shares to AdBEE securities holders (dematerialised holders Monday, 5 August will have their accounts credited and certified holders will have their certificates posted) Termination of listing of AdBEE Tuesday, 6 August Johannesburg 29 July 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Legal Adviser Edward Nathan Sonnenbergs Inc. Date: 29/07/2019 11:23:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
|2019-07-29 11:23:00 Source: JSE News Service (SENS)|