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REX TRUEFORM GROUP LIMITED - Acquisition of a 63.71% stake in Telemedia Proprietary Limited - update announcement

Release Date: 18/06/2021 17:00
Code(s): RTN RTO RTOP     PDF:  
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Acquisition of a 63.71% stake in Telemedia Proprietary Limited - update announcement

REX TRUEFORM GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1937/009839/06)
JSE share code: RTO       ISIN: ZAE000250387
JSE share code: RTN       ISIN: ZAE000250395
JSE share code: RTOP ISIN: ZAE000250403
("Rex Trueform" or the "Company")


ACQUISITION OF A 63.71% STAKE IN TELEMEDIA PROPRIETARY LIMITED – UPDATE ANNOUNCEMENT


1.1 Shareholders are referred to the announcement released on the Stock Exchange News Service ("SENS")
    on 13 November 2020 ( the "13 November 2020 announcement") regarding the sale of shares
    agreement that the Company, together with African and Overseas Enterprises Limited had entered into with
    the Trustees for the time being of the Bretherick Family Trust, Peter Fairbank Bretherick, Ryan David
    Bretherick, and Stephen Mark Bretherick in terms of which Rex Trueform will acquire a 63.71% stake in
    Telemedia Proprietary Limited (the "Transaction"), together with the further update in this regard released
    on SENS on 10 May 2021.

1.2 The Company advises that the condition precedent requiring the Independent Communications Authority
    of South Africa to provide its written consent to the Transaction (the "Condition Precedent") is still
    outstanding. The implementation of the Transaction remains subject to the fulfilment of the Condition
    Precedent by an extended date of no later than Friday, 29 October 2021.

1.3 Rex Trueform does not expect that the anticipated delay will impact the implementation timeline as set out
    in the 13 November 2020 announcement. On fulfilment of the Condition Precedent, a finalisation
    announcement, together with the implementation timeline, will be communicated to Rex Trueform
    Shareholders via SENS.

18 June 2021


Sponsor
Java Capital

Date: 18-06-2021 05:00:00
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