12 Sep 2017 14:00
Naspers Limited
(Incorporated in the Republic of South Africa)Registration number: 1925/001431/06Share code: NPN
ISIN: ZAE000015889
("Naspers" or the "Company")
FINALISATION ANNOUNCEMENT IN RELATION TO THE UNBUNDLING OF NOVUS HOLDINGS LIMITED SHARES TO NASPERS SHAREHOLDERS
1. Introduction
1.1. Naspers "N" and "A" shareholders ("Naspers Shareholders") are referred to the announcement released on SENS on 5 September 2017 ("Detailed Announcement") in terms of which Naspers Shareholders were advised that the Company will unbundle 151,786,287 Novus Holdings Limited shares to Naspers Shareholders ("Unbundling").
1.2. There have been no changes to the terms or the timing of the Unbundling as set out in the Detailed Announcement.
2. Salient dates and times
For ease of reference, the salient dates and times relating to the Unbundling, which are unchanged from those disclosed in the Detailed Announcement, have been set out in the timetable hereunder:
2017 | |
Finalisation announcement expected to be released on SENS, if required | Tuesday, 12 September |
Expected LDT Date in order to participate in the Unbundling | Tuesday, 19 September |
Announcement expected to be released on SENS in respect of the cash payment applicable to fractional entitlements to the Unbundling, based on the VWAP of the Unbundled Novus Shares traded on the JSE on Wednesday, 20 September 2017, discounted by 10% | Thursday, 21 September |
Announcement expected to be released on SENS in respect of the specified ratio apportionment related to the tax consequences of the Unbundling | Thursday, 21 September |
Expected Record Date on which Naspers Shareholders must be recorded in Naspers' share register to participate in the Unbundling | Friday, 22 September |
Expected Operative Date of the Unbundling | Tuesday, 26 September |
Naspers Shareholders' accounts at CSDP or broker expected to be updated and credited | Tuesday, 26 September |
1. The defined terms used in the above table will have the meaning ascribed to them in the Detailed Announcement.
2. The above dates are subject to amendment. Any material amendments will be released on SENS.
Cape Town
12 September 2017
Financial advisor and sponsorInvestec Bank Limited
Legal advisors
Glyn Marais Inc.
Werksmans Inc.
Tax advisors
PricewaterhouseCoopers Tax Services Proprietary Limited