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BARLOWORLD LIMITED - Update on the Acquisition of Tongaat Hulett Starch and Further Cautionary Announcement
2020/09/22 08:30:00Download PDF Stock report
Update on the Acquisition of Tongaat Hulett Starch and Further Cautionary Announcement Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (Bond issuer code: BIBAW) (JSE ISIN: ZAE000026647) (Namibian Stock Exchange share code: BWL) ('Barloworld' or the 'Company') Update on the Acquisition of Tongaat Hulett Starch and Further Cautionary Announcement Shareholders are referred to the various announcements regarding the proposed acquisition of Tongaat Hulett Starch (the “Sale Business”) and the two material adverse change (“MAC”) notices delivered by KLL Group Proprietary Limited, a wholly owned subsidiary of Barloworld (“KLL” or “Barloworld”), to Tongaat Hulett Limited (“THL”) in terms of the sale and purchase agreement pertaining to the proposed acquisition of the Sale Business concluded between THL and KLL on 28 February 2020, as amended. The dispute on the MAC has been referred to Rothschild and Co South Africa Proprietary Limited (“Independent Expert”) for a determination. An announcement will be released on SENS later today advising Barloworld shareholders of the Independent Expert’s determination. Shareholders are advised to continue to exercise caution when dealing in the Company’s securities. Sandton 22 September 2020 Financial Advisor and Transaction Sponsor Absa Corporate and Investment Banking, a division of Absa Bank Limited Legal Advisor DLA Piper Advisory Services Proprietary Limited JSE Equity and Debt Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 22-09-2020 08:30:00 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.