To view the PDF file, sign up for a MySharenet subscription.

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

Release Date: 26/08/2021 17:00
Code(s): RTN RTO RTOP     PDF:  
Wrap Text
Acquisition of a 63.71% stake in Telemedia - further update announcement

(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")


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
   ("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 would
   acquire a 63.71% stake in Telemedia Proprietary Limited (the "Transaction"), together with the update in
   this regard released on SENS on 18 June 2021.

2. The Company advises that the Agreement was amended in writing on 25 August 2021, in respect of the
   2.1.    The condition precedent requiring the Independent Communications Authority of South Africa to
           provide its written consent to the Transaction (the "Condition Precedent") by an extended date
           of no later than 29 January 2022.

   2.2.    The definition of "Effective Date" of the Transaction which will now read as follows:

           “Effective Date’ means the 1st (first) day of the calendar month following the Unconditional Date,
           or 1 November 2021, whichever occurs last, or such later date thereafter which is as soon as
           reasonably possible after the issue of the Consideration Shares and as agreed to in writing between
           the parties.”

The Condition Precedent remains outstanding. The implementation of the Transaction remains subject to the
fulfilment of the Condition Precedent.

26 August 2021

Java Capital

Date: 26-08-2021 05:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story