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Hulisani Limited (JSE:HUL) News - Exercise of GRI put option and receipt of put option proceeds
HULISANI LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2015/363903/06)
JSE Share code: HUL
ISIN: ZAE000212072
(“Hulisani” or “the Company”)
EXERCISE OF GRI PUT OPTION AND RECEIPT OF PUT OPTION PROCEEDS
Hulisani Shareholders are referred to the Firm Intention Announcement published on the Stock Exchange
News Service dated 9 November 2021 (“the 9 November Announcement”), in which Hulisani
Shareholders were advised that the Company had entered into the Implementation Agreement pursuant to
which Reatile had agreed to make the Offer to acquire the Hulisani Shares from Hulisani Shareholders for
the Scheme Consideration, plus an Agterskot Payment, if any, relating to the exercise of the GRI Put
Option.
The capitalised terms in this announcement bear the same meanings as those contained in the 9 November
Announcement.
Hulisani Shareholders are advised that the GRI Put Option was duly exercised and the proceeds thereof,
being an aggregate amount of R82.5m (“the Put Option Proceeds”) have been received by Hulisani.
The Put Option Proceeds have been placed in a newly opened, ring-fenced interest-bearing bank account,
with the after-tax balance of any interest accruing for the benefit of, and which is payable by or on behalf of
Reatile to, Scheme Participants in the form of the Agterskot Payment.
Subject to the fulfilment or waiver, as applicable, of the Conditions Precedent by not later than 29 April
2022, the Scheme Consideration plus the Agterskot Payment will be paid to Scheme Participants in
accordance with the settlement procedures outlined in the Circular.
Responsibility Statement
The Independent Board of Hulisani accepts responsibility for the information contained in this
announcement. To the best of its knowledge and belief, the information contained in this announcement is
true and the announcement does not omit anything likely to affect the importance of the information.
29 March 2022
Johannesburg
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 29-03-2022 09:52:00
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