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Naspers Limited (NPSN)

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Tuesday 12 September, 2017

Naspers Limited

FINALISATION IN RELATION TO UNBUNDLING OF NOVUS

RNS Number : 5293Q
Naspers Limited
12 September 2017
 

Naspers Limited

(Incorporated in the Republic of South Africa)
Registration number: 1925/001431/06
Share code: NPN

ISIN: ZAE000015889

("Naspers" or the "Company")

FINALISATION ANNOUNCEMENT IN RELATION TO THE UNBUNDLING OF NOVUS HOLDINGS LIMITED SHARES TO NASPERS SHAREHOLDERS

 

1.     Introduction

1.1.   Naspers "N" and "A" shareholders ("Naspers Shareholders") are referred to the announcement released on SENS on 5 September 2017 ("Detailed Announcement") in terms of which Naspers Shareholders were advised that the Company will unbundle 151,786,287 Novus Holdings Limited shares to Naspers Shareholders ("Unbundling").

1.2.   There have been no changes to the terms or the timing of the Unbundling as set out in the Detailed Announcement.

2.     Salient dates and times

For ease of reference, the salient dates and times relating to the Unbundling, which are unchanged from those disclosed in the Detailed Announcement, have been set out in the timetable hereunder:


2017

Finalisation announcement expected to be released on SENS, if required

Tuesday, 12 September

Expected LDT Date in order to participate in the Unbundling

Tuesday, 19 September

Announcement expected to be released on SENS in respect of the cash payment applicable to fractional entitlements to the Unbundling, based on the VWAP of the Unbundled Novus Shares traded on the JSE on Wednesday, 20 September 2017, discounted by 10%

Thursday, 21 September

Announcement expected to be released on SENS in respect of the specified ratio apportionment related to the tax consequences of the Unbundling

Thursday, 21 September

Expected Record Date on which Naspers Shareholders must be recorded in Naspers' share register to participate in the Unbundling

Friday, 22 September

Expected Operative Date of the Unbundling

Tuesday, 26 September

Naspers Shareholders' accounts at CSDP or broker expected to be updated and credited

Tuesday, 26 September

 

1.     The defined terms used in the above table will have the meaning ascribed to them in the Detailed Announcement.

2.     The above dates are subject to amendment. Any material amendments will be released on SENS.

 

 

Cape Town

12 September 2017

 

Financial advisor and sponsor
Investec Bank Limited

 

Legal advisors

Glyn Marais Inc.

Werksmans Inc.

 

Tax advisors

PricewaterhouseCoopers Tax Services Proprietary Limited


This information is provided by RNS
The company news service from the London Stock Exchange
 
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