Sacoven PLC Exchange rate for redemption of Ordinary Shares (3335Q)

TIDMSCN

RNS Number : 3335Q

Sacoven PLC

29 November 2016

SACOVEN PLC

(Incorporated in Jersey under the Companies (Jersey) Law 1991

(Company number 110296)

AIM Share code: SCN

JSE Share code: SCV

ISIN: JE00B7YH8W36

("Sacoven" or the "Company")

Announcement of the exchange rate in respect of the redemption of Ordinary Shares listed on the AltX of the JSE Limited

The Company announces that the exchange rate applicable to holders of Ordinary Shares listed on the AltX of the JSE Limited in respect of the redemption of Ordinary Shares of the Company as detailed in the Circular to Shareholders dated 7 November 2016 is 17.027 (as per the exchange rate stated by Barclays on 28 November 2016), meaning that the Redemption Price in South African Rand will be ZAR 1,283.89539 calculated as 75.403500 pence * ZAR17.027.

Redemption

Shareholders are reminded that if they wish to apply to have the Company redeem their Ordinary Shares on the terms and subject to the conditions set out in the Company's circular to Shareholders dated 7 November 2016 (which is available on the Company's website www.sacoven.com) (the "Circular"), they must do so before 1.00p.m. UK time (3.00p.m. SA time) on 5 December 2016 in accordance with the procedures set out in the Circular.

Shareholders should be aware that, if they fail to apply to have the Company redeem their Ordinary Shares, they will lose the right to receive the Redemption Price and will only be entitled to receive a pro-rata entitlement to the assets that remain in the Company on winding up. Those remaining assets will be shared pro rata between Brunswood and any other Shareholders that have chosen not to have their Ordinary Shares redeemed (or have otherwise failed to submit a valid Redemption Notice or USE Instruction).

Terms used in the announcement but not defined are as defined in the Circular.

Sacoven has a primary listing on the Alternative Investment Market of the London Stock Exchange and a secondary listing on the AltX of the Johannesburg Stock Exchange.

29 November 2016

Jersey

 
 JSE Sponsor                 AIM Nomad and Broker 
 KPMG Services Proprietary   Liberum Capital Limited 
  Limited                     Clayton Bush & Christopher 
                              Britton 
                              Tel: [phone] 
                              2000 
 

For further information please visit the Company's website www.sacoven.com

Niall McCallum + 44 (0)1534 823000

This information is provided by RNS

The company news service from the London Stock Exchange

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November 29, 2016 02:00 ET (07:00 GMT)