ARB receives nonbinding expression of interest

6th December 2021

By: Creamer Media Reporter

     

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JSE-listed ARB Holdings has received a nonbinding expression of interest for the acquisition of a minority shareholding in the company.

The possible transaction, if successful, would result in the offeror acquiring all the issued shares in ARB excluding those held by the current controlling shareholder and its’ associates by way of a scheme of arrangement and the subsequent delisting of the company.

The company, in an update to shareholders, noted that the nonbinding expression of interest, which contains terms and conditions customary for a transaction of this nature, did not constitute an offer or a firm intention to make an offer as contemplated by Section 101 of the Companies Regulations.

Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until a further announcement is made.

Edited by Creamer Media Reporter

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