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Afrimat to buy out remaining Infrasors shares

26th June 2015

By: Sashnee Moodley

Senior Deputy Editor Polity and Multimedia

  

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JSE-listed Afrimat will make a cash offer to acquire the entire remaining issued share capital of subsidiary Infrasors that it does not already own.

Afrimat holds 91.28% of the total issued ordinary share capital of Infrasors.

The transaction will be implemented by a scheme of arrangement, or a general offer should the scheme of arrangement not proceed.

Afrimat is offering R1.35 in cash per scheme share. The offer price represents a 19.47% premium on the 30-day volume weighted average traded price on June 9.

The implementation of the transaction is subject to the fulfilment or waiver of certain con- ditions precedent by no later than December 31. These include the receipt of approvals, consents or waivers from all regulatory bodies, governmental or quasi-governmental entities necessary to implement the transaction.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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