Reverse Stock Split: Cash Payment for Fractional Rights
AFRISTRAT INVESTMENT HOLDINGS LIMITED Incorporated in the Republic of South Africa Registration Number: 1998/013215/06
JSE code: ATI – ISIN: ZAE000305959 Debt issuer code: ATID
Hybrid issuer code: ATIG (“Afristrat” or “the company“)
CONSOLIDATION OF SHARES: CASH PAYMENT FOR FRACTIONS
In the case of Certified Ordinary Shareholders whose addresses on the Register in South Africa are outside the Common Currency Area, or where the relevant certificates are restrictively endorsed under Exchange Control Regulations, which following will apply:
Non-resident emigrants from the common currency area
The replacement share certificate reflecting the Reverse Stock Split will be restrictively endorsed under the Exchange Control Regulations and will be sent to the Ordinary Shareholders’ authorized foreign exchange dealer in South Africa controlling their blocked assets.
All other non-residents
The replacement share certificate reflecting the share consolidation will be endorsed restrictively ‘non-resident‘ in terms of the Exchange Control Regulations.
Ordinary Shareholders, who are Foreign Ordinary Shareholders, must ensure full compliance with the laws of any relevant jurisdiction, including (without limitation) obtaining any governmental or other required consents, compliance with any other required formality and payment of any issue, transfer or other taxes due in that jurisdiction. If in doubt, Foreign Ordinary Shareholders should consult their professional advisers immediately.
3.2 The tax position of an Ordinary Shareholder in connection with the Proposed Transaction depends on this Individual situation of the Ordinary Shareholder. This announcement is a general guide and is not intended to constitute a complete analysis of the tax consequences of the cash payment of fractional rights in terms of South African tax law. It is not intended to be, nor should it be considered legal or tax advice. The Company and its advisers cannot be held responsible for the tax consequences which the Reverse Stock Split may have on individual Ordinary Shareholders and, consequently, any Ordinary Shareholder who is in doubt as to his or her position, including, without limit, its tax status, should consult an independent professional adviser in the relevant jurisdiction without delay.
3.3 The important dates and times announced by the Company on Tuesday March 15, 2022 remain unchanged.
April 7, 2022
Sponsor Merchantec Capital
Corporate Advisor Capital YW
Jural advisor Webber Wentzel
Afristrat Investment Holdings Ltd. published this content on 07 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Apr 07, 2022 09:02:06 UTC.