SA-CORP: 314 -4 (-1.26%)
Dipula Makes Non-Binding Offer To Buy 100% Shares In SA Corporate
July 26 (Reuters) - Dipula Income Fund Ltd:
* NON-BINDING OFFER BY DIPULA TO ACQUIRE 100% OF SHARES IN
CORPORATE THROUGH A MERGER AND CAUTIONARY ANNOUNCEMENT
* AT OFFER PRICE, PROPOSED TRANSACTION PROCEEDS ARE
C. R9 BILLION.
* SHARE CONSIDERATION EQUATES TO AN INDICATIVE OFFER PRICE
R3.55 PER SAC SHARE
* MERGED ENTITY WILL HAVE A PORTFOLIO VALUE OF C. R27
* BASED ON SWITCH RATIO SA CORPORATE SHAREHOLDERS TO RECEIVE
469.5 MILLION DIPULA A SHARES, 613.2 MILLION DIPULA B SHARES
* SWITCH RATIO, AS PER OFFER, EQUATES TO C. 0.185 DIPULA A
& 0.242 DIPULA B SHARES FOR EVERY 1 SAC SHARE
* BASED ON SWITCH RATIO SA CORPORATE SHAREHOLDERS TO OWN C.
DIPULA A SHARES, 70% DIPULA B SHARES IN ISSUE POST PROPOSED DEAL
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