Barloworld Limited B-BB Empowerment Transaction Update (7920W)
13 12월 2019 - 4:00PM
UK Regulatory
TIDMBWO
RNS Number : 7920W
Barloworld Limited
13 December 2019
Barloworld Limited Khula Sizwe Property Holdings (RF)
(Incorporated in the Republic of Limited
South Africa) (formerly Main Street 1646 (RF)
(Registration number 1918/000095/06) Limited)
(Income tax registration number (Incorporated in the Republic of
9000/051/71/5) South Africa)
(Share code: BAW) (JSE ISIN: ZAE000026639) (Registration number 2018/546305/06)
(Share code: BAWP) (JSE ISIN: ZAE000026647) (Income tax registration number
(Namibian Stock Exchange share 9157114241)
code: BWL) (ISIN: ZAU000016586)
("Barloworld") ("Khula Sizwe")
BROAD-BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION
("B-BBEE TRANSACTION") UPDATE
Further to the announcement released on the stock exchange news
service of the JSE Limited ("SENS") on
5 June 2019 and using the terms as defined in the Barloworld
circular to shareholders dated 18 December 2018, Barloworld
Shareholders are advised that, following fulfilment of the
Conditions Precedent to the
B-BBEE Transaction on 31 May 2019, the transaction is in the
process of being implemented.
In accordance with the terms of the Framework Agreement,
Barloworld has determined that a sufficient minimum value of
Properties (as amended in terms of the SENS announcement released
on 9 April 2019: Amendment to the Terms of the B-BBEE Transaction),
have been transferred to Khula Sizwe. Accordingly, the Foundation
Shares, being 6 578 121 Barloworld Shares, are being allotted and
issued on 13 December 2019 to the Foundation and application has
been made to the JSE for the listing of the Foundation Shares on or
before 20 December 2019.
Barloworld and Khula Sizwe continue to exercise their respective
reasonable commercial endeavours to transfer the balance of the
Properties to Khula Sizwe.
Johannesburg
13 December 2019
Company Secretary
A Ndoni
Corporate Adviser and Transaction Sponsor to Barloworld
Tamela Holdings Proprietary Limited
Sponsor to Barloworld
Nedbank Corporate and Investment Banking, a division of Nedbank
Limited
Legal Adviser to Barloworld
Dentons
Corporate Adviser to Khula Sizwe
Tamela Holdings Proprietary Limited
Legal Adviser to Khula Sizwe
Poswa Incorporated
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END
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