Sacoven PLC Exchange rate for redemption of Ordinary Shares (3335Q)
29 November 2016 - 6:00PM
UK Regulatory
TIDMSCN
RNS Number : 3335Q
Sacoven PLC
29 November 2016
SACOVEN PLC
(Incorporated in Jersey under the Companies (Jersey) Law
1991
(Company number 110296)
AIM Share code: SCN
JSE Share code: SCV
ISIN: JE00B7YH8W36
("Sacoven" or the "Company")
Announcement of the exchange rate in respect of the redemption
of Ordinary Shares listed on the AltX of the JSE Limited
The Company announces that the exchange rate applicable to
holders of Ordinary Shares listed on the AltX of the JSE Limited in
respect of the redemption of Ordinary Shares of the Company as
detailed in the Circular to Shareholders dated 7 November 2016 is
17.027 (as per the exchange rate stated by Barclays on 28 November
2016), meaning that the Redemption Price in South African Rand will
be ZAR 1,283.89539 calculated as 75.403500 pence * ZAR17.027.
Redemption
Shareholders are reminded that if they wish to apply to have the
Company redeem their Ordinary Shares on the terms and subject to
the conditions set out in the Company's circular to Shareholders
dated 7 November 2016 (which is available on the Company's website
www.sacoven.com) (the "Circular"), they must do so before 1.00p.m.
UK time (3.00p.m. SA time) on 5 December 2016 in accordance with
the procedures set out in the Circular.
Shareholders should be aware that, if they fail to apply to have
the Company redeem their Ordinary Shares, they will lose the right
to receive the Redemption Price and will only be entitled to
receive a pro-rata entitlement to the assets that remain in the
Company on winding up. Those remaining assets will be shared pro
rata between Brunswood and any other Shareholders that have chosen
not to have their Ordinary Shares redeemed (or have otherwise
failed to submit a valid Redemption Notice or USE Instruction).
Terms used in the announcement but not defined are as defined in
the Circular.
Sacoven has a primary listing on the Alternative Investment
Market of the London Stock Exchange and a secondary listing on the
AltX of the Johannesburg Stock Exchange.
29 November 2016
Jersey
JSE Sponsor AIM Nomad and Broker
KPMG Services Proprietary Liberum Capital Limited
Limited Clayton Bush & Christopher
Britton
Tel: +44 (0)20 3100
2000
For further information please visit the Company's website
www.sacoven.com
Niall McCallum + 44 (0)1534 823000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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