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Kaap Agri Limited (JSE:KAL) News - Zeder Unbundling of its Shareholding in the Company
KAAP AGRI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2011/113185/06)
Share code: KAL
ISIN: ZAE000244711
(“Kaap Agri” or “the Company”)
ZEDER UNBUNDLING OF ITS SHAREHOLDING IN THE COMPANY
Shareholders are referred to the SENS announcement published by Zeder Investments
Limited (“Zeder”) yesterday, 28 February 2022, regarding the planned unbundling by Zeder of
31 286 956 Kaap Agri shares, comprising approximately 42.2% of the Company’s issued
share capital to its shareholders by way of a pro rata distribution in specie (“Zeder
Unbundling”). The Zeder Unbundling is subject to the necessary exchange control approval
being obtained.
In addition, shareholders are referred to the detailed cautionary announcement released by
PSG Group Limited (“PSG Group”) today, 1 March 2022, regarding the proposed PSG Group
restructuring as a value-unlock initiative, which is currently being considered by the PSG
Group board, comprising: (i) the unbundling of PSG Group’s shareholding in the listed entities
described therein, of which the Company is one; (ii) the repurchase of shares from exiting
shareholders of the PSG Group; and (iii) the delisting of the PSG Group from the JSE.
The change in the shareholding structure of the Company as a consequence of the Zeder
Unbundling, and thereafter the PSG Group’s restructuring, as described above, will not impact
our business model, operations or strategic direction and the management team remains
committed to delivering on the Company’s strategy and growth potential. Kaap Agri is well
capitalised and shareholders should benefit from the additional liquidity that will likely result
from the Zeder Unbundling.
Kaap Agri’s board wishes to thank Zeder for their continued support and valued input as a key
shareholder over many years.
1 March 2022
Sponsor
PSG Capital
Date: 01-03-2022 08:55:00
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