HomeNewsExxaro BBE transaction date effective 11 December 2017

Exxaro BBE transaction date effective 11 December 2017

In light of the conditions precedent having been met sooner than initially anticipated, the date on which the second repurchase will be implemented.

The date on which the new empowerment structure, including the issue of the specific issue shares, will be implemented has been brought forward.

Set out below are the revised salient dates relating to the implementation of the replacement BEE transaction:

  • Last day for Exxaro independent shareholders who voted against the second repurchase scheme to apply to court for leave to apply for a review of the second repurchase scheme in terms of section 115(3)(b) of the Companies Act – Monday 4 December
  • Finalization announcement published in the press Monday 4 December
  • Repurchase implementation date – Friday 8 December
  • Delisting of second repurchase scheme shares on BEE implementation date – Monday 11 December

Feature image credit: Wikimedia

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