TRP Firm Intention Bullish
TAKEOVER REGULATION PANEL - Sasfin Holdings Limited Firm Intention Announcement
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What this filing means
The Sasfin Share Incentive Trust has announced a firm intention to acquire the remaining 1.4% of unlisted Sasfin Holdings shares for R42.00 each via a scheme of arrangement.
Bull case
- The scheme provides a definitive cash exit at R42.00 per share for the 948 remaining minority shareholders, who represent less than 1.4% of the register.
- BDO Corporate Finance, acting as the Independent Expert, has confirmed that the Scheme Consideration is fair and reasonable.
Bear case
- The scheme includes a long long-stop date of 31 December 2026 for conditions precedent, which could theoretically prolong the execution timeline.
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Other Firm Intention
- BWNBALWIN PROPERTIES LIMITED - Joint announcement relating to the extension of the distribution date of the scheme circular
- MHBMAHUBE INFRASTRUCTURE LIMITED - Results of the Scheme Meeting
- MHBMAHUBE INFRASTRUCTURE LIMITED - Amendments to Scheme terms and postponement of the Scheme Meeting to approve the Scheme
- RFGRFG HOLDINGS LIMITED - Fractional entitlements arising from the Scheme
- MHBMAHUBE INFRASTRUCTURE LIMITED - Distribution of the Scheme Circular and Salient Dates and Times in respect of the Scheme