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Tongaat Hulett Limited (JSE:TON) News - Update on the review of the Takeover Regulation Panel exemption ruling
Tongaat Hulett Limited
(Registration number 1892/000610/06)
Share code: TON
ISIN ZAE000096541
(“THL”)
UPDATE ON THE REVIEW OF THE TAKEOVER REGULATION PANEL (“TRP”) EXEMPTION RULING
Shareholders of THL (“THL Shareholders”) are referred to the SENS announcement dated
28 January 2022, wherein THL advised that the Takeover Special Committee (“TSC”) had received notice
from a consortium, including Artemis Investments Proprietary Limited (the “Consortium”), of an intention
to seek a review of the TRP ruling granting an exemption from the obligation to make a mandatory offer to
THL Shareholders.
The TSC hearing on the matter was held on 25 February 2022 and a determination is expected to be
received on or about 8 March 2022. THL will advise THL Shareholders on the TSC’s determination once it
has been made.
THL continues to progress the other outstanding conditions precedent, including approvals from the South
African lenders and the relevant merger control approvals in various jurisdictions.
RESPONSIBILITY STATEMENT
The directors of THL collectively and individually accept full responsibility for the accuracy of the information
contained in this announcement, and confirm that, to the best of their knowledge and belief, there are no
facts which have been omitted which would make any statement in this announcement false or misleading,
and that all reasonable enquiries to ascertain such facts have been made.
Tongaat
1 March 2022
Financial Advisors to THL
Rothschild & Co South Africa Proprietary Limited
PricewaterhouseCoopers Corporate Finance Proprietary Limited
Transaction Sponsor to THL
PricewaterhouseCoopers Corporate Finance Proprietary Limited
Legal Advisor to THL
Bowman Gilfillan Inc.
Legal Advisor to Magister Investments Limited
Fluxmans Inc.
Date: 01-03-2022 08:40:00
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