SA-CORP:  327   +15 (+4.81%)  15/09/2019 00:00

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 SA CORPORATE THROUGH A MERGER AND CAUTIONARY ANNOUNCEMENT

* AT OFFER PRICE, PROPOSED TRANSACTION PROCEEDS ARE ESTIMATED AT C. R9 BILLION.

* SHARE CONSIDERATION EQUATES TO AN INDICATIVE OFFER PRICE OF R3.55 PER SAC SHARE

* MERGED ENTITY WILL HAVE A PORTFOLIO VALUE OF C. R27 BILLION

* BASED ON SWITCH RATIO SA CORPORATE SHAREHOLDERS TO RECEIVE C. 469.5 MILLION DIPULA A SHARES, 613.2 MILLION DIPULA B SHARES

* SWITCH RATIO, AS PER OFFER, EQUATES TO C. 0.185 DIPULA A SHARES & 0.242 DIPULA B SHARES FOR EVERY 1 SAC SHARE

* BASED ON SWITCH RATIO SA CORPORATE SHAREHOLDERS TO OWN C. 64% OF DIPULA A SHARES, 70% DIPULA B SHARES IN ISSUE POST PROPOSED DEAL Source text for Eikon: Further company coverage:

2019-07-26 10:21:16

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