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SUN INTERNATIONAL LIMITED - Announcement by Nueva Inversiones Pacifico Sur Limitada

Release Date: 25/06/2020 08:55
Code(s): SUI     PDF:  
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Announcement by Nueva Inversiones Pacifico Sur Limitada

SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/007528/06)
Share code: SUI
ISIN: ZAE000097580
LEI: 378900835F180983C60
("Sun International" or “the Company”)


ANNOUNCEMENT BY NUEVA INVERSIONES PACIFICO SUR LIMITADA ("IPS")


Sun International shareholders ("Shareholders") are referred to the announcement published by IPS
through the press on Wednesday, 24 June 2020 ("IPS Announcement") and are advised that aside from
the irregular nature of the IPS Announcement which was not published on SENS, the IPS Announcement
purports to express an intention to deliver to the Sun International board a firm intention to make a partial
offer to Shareholders, provided that a multiplicity of stringent pre-conditions are met.

Shareholders are further advised that the IPS Announcement is neither an offer nor a firm intention to
make an offer as contemplated under the Companies Act, 2008 and chapter 5 of the Companies
Regulations, 2011.

The Sun International board has received several unsolicited, non- binding, indicative proposals from IPS
containing varying terms and conditions, similar in nature to the IPS Announcement. Each proposal
received from IPS has failed to adequately address the concerns consistently raised by Sun International,
including the significant and material litigation claim which Sun International has against IPS, as referred
to in the IPS Announcement. Despite not addressing any of the concerns raised by the Company, IPS saw
fit to publish its unsolicited IPS Announcement in a manner which has unfortunately caused speculation
in the Sun International share.

In the event that a firm intention to make an offer or an actual offer is ever made by IPS, then the Company
will at that point respond appropriately, in accordance with law and market practice and in the best
interests of its shareholders.

The Company remains focussed on its proposed rights offer and Shareholders are reminded in this regard
of the general meeting of shareholders to be held at 09:00 on Monday, 13 July 2020 , at the Maslow Hotel,
corner Grayston Drive and Rivonia Road, Sandton, Gauteng, South Africa, or wholly by electronic
participation should the Company so announce.

The board has accepted responsibility for the accuracy of the information contained in this announcement
and have certified that, to the best of their knowledge and belief, the information contained in this
announcement is true and that nothing has been omitted which is likely to affect the importance of the
information contained in this announcement.


                                                                                                
By Order of the Board


Sandton
25 June 2020

Financial Advisor and Sponsor to Sun International
Investec Bank Limited

Corporate Law Advisor
Cliffe Dekker Hofmeyr Incorporated




                                                   

Date: 25-06-2020 08:55:00
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