03 Jun - 5 min read

Share Consolidation to be Implemented and Cautionary Announcement

Share Consolidation to be Implemented and Cautionary Announcement

NUTRITIONAL HOLDINGS LIMITED
(Registration number: 2004/002282/06)
(Incorporated in the Republic of South Africa)
(Share Code: NUT ISIN Code: ZAE000298568)
(“Nutritional Holdings” or “the Company”)


SHARE CONSOLIDATION TO BE IMPLEMENTED AND CAUTIONARY ANNOUNCEMENT


IMPLEMENTATION OF THE SHARE CONSOLIDATION
Shareholders are referred to the share consolidation finalisation announcement published
on SENS on 18 May 2021 (“Finalisation Announcement”) and the subsequent
announcement published by the JSE on 26 May 2021 advising that the Company’s listing
on the JSE Limited had been suspended in accordance with paragraph 1.6 of the JSE
Listing Requirements.

Shareholders are advised that notwithstanding the suspension of the Company’s listing,
the share consolidation will be implemented in accordance with the salient dates
incorporated in the Finalisation Announcement as republished below and that with effect
from 7 June 2021, every 25 shares held by a shareholder will be reduced to 1 share.

A table illustrating the impact of the share consolidation on a shareholder in terms of the
number of shares held before the consolidation and the number of shares that will be held
after the consolidation, is set out below. In the case of fractional entitlements, all
allocations of consolidated shares will be rounded down to the nearest whole number
resulting in allocations of whole shares together with a cash payment for the fraction to be
paid out to shareholders. The cash value to be paid out will be determined utilising the
weighted average traded price of the Company’s shares as at 26 May 2021 (being the
day on which the Company’s listing was suspended by the JSE) and will be paid directly
by the Company.

Shareholding     Shareholding     Cash value to     Shareholding   Shareholding    Cash value to
    pre-             post          be paid out         pre-            post         be paid out
consolidation    consolidation        (cents)      consolidation   consolidation      (cents)
      1                -           1.00000             56               2            6.00000
      2                -           2.00000             57               2            7.00000
      3                -           3.00000             58               2            8.00000
      4                -           4.00000             59               2            9.00000
      5                -           5.00000             60               2           10.00000
      6                -           6.00000             61               2           11.00000
      7                -           7.00000             62               2           12.00000
      8                -           8.00000             63               2           13.00000
      9                -           9.00000             64               2           14.00000
     10                -          10.00000             65               2           15.00000
     11                -          11.00000             66               2           16.00000
     12                -          12.00000             67               2           17.00000
     13                -          13.00000             68               2           18.00000
     14                -          14.00000             69               2           19.00000
     15                -          15.00000             70               2           20.00000
     16                -          16.00000             71               2           21.00000
     17                -          17.00000             72               2           22.00000
     18                -          18.00000             73               2           23.00000
     19                -          19.00000             74               2           24.00000
     20                -          20.00000             75               3                  -
     21                -          21.00000             76               3            1.00000
     22                -          22.00000             77               3            2.00000
     23                -          23.00000             78               3            3.00000
     24                -          24.00000             79               3            4.00000
     25                1                 -             80               3            5.00000
     26                1           1.00000             81               3            6.00000
     27                1           2.00000             82               3            7.00000
     28                1           3.00000             83               3            8.00000
     29                1           4.00000             84               3            9.00000
     30                1           5.00000             85               3           10.00000
     31                1           6.00000             86               3           11.00000
     32                1           7.00000             87               3           12.00000
     33                1           8.00000             88               3           13.00000
     34                1           9.00000             89               3           14.00000
     35                1          10.00000             90               3           15.00000
     36                1          11.00000             91               3           16.00000
     37                1          12.00000             92               3           17.00000
     38                1          13.00000             93               3           18.00000
     39                1          14.00000             94               3           19.00000
     40                1          15.00000             95               3           20.00000
     41                1          16.00000             96               3           21.00000
     42                1          17.00000             97               3           22.00000
     43                1          18.00000             98               3           23.00000
     44                1          19.00000             99               3           24.00000
     45                1          20.00000            100               4                  -
     46                1          21.00000          1 000              40                  -
     47                1          22.00000         10 000             400                  -
     48                1          23.00000        100 000           4 000                  -
     49                1          24.00000      1 000 000          40 000                  -
     50                2                 -      5 000 000         200 000                  -
     51                2           1.00000     10 000 000         400 000                  -
     52                2           2.00000     50 000 000       2 000 000                  -
     53                2           3.00000    100 000 000       4 000 000                  -
     54                2           4.00000    500 000 000      20 000 000                  -
     55                2           5.00000  1 000 000 000      40 000 000                  -
 
The salient dates and times of the Consolidation are set out below:

 SALIENT DATES AND TIMES                                                             2021
 Last day to trade in existing Nutritional Holdings shares on the
 JSE prior to the Consolidation                                           Tuesday, 1 June

 Date for trading in consolidated shares under the new
 ISIN ZAE000298568 commences                                            Wednesday, 2 June

 Announcement released on SENS in respect of the cash
 payment applicable to fractional entitlements, based on the
 volume weighted average price of consolidated shares traded
 on Wednesday, 2 June 2021, less 10%, by 11:00 am on                     Thursday, 3 June

 Forms of surrender for new certificates to be received by the
 transfer secretaries in order for new certificates reflecting the
 consolidation to be posted on Monday, 7 June 2021, by 12:00
 on                                                                        Friday, 4 June

 Record date for the Consolidation at the close of business                Friday, 4 June

 Date that accounts of dematerialised shareholders at their
 CSDP or broker will be updated and will receive fraction
 allocation payments                                                       Monday, 7 June

 Date of issue of new replacement share certificates, provided
 that the old share certificates have been lodged by 12:00 on
 the record date (Friday, 7 June 2021), on or about (share
 certificates received after this time will be posted within five
 business days of receipt)                                                Monday, 7 June


Notes:
1. All times quoted in are local times in South Africa.
2. In respect of the Consolidation, shareholdings may not be dematerialised or
   rematerialised between Wednesday, 2 June 2021 until Friday 4 June 2021.

CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the fact that the share consolidation will be implemented
whilst the Company’s listing on the JSE remains suspended may have a material effect on
the price at which the Company’s shares may have been expected to trade post
consolidation. Shareholders are accordingly advised to exercise caution when dealing in
the Company’s securities on the lifting of the suspension.

By order of the Board

Durban
3 June 2021
__________________________________________________________________________________
Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 03-06-2021 10:55:00
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.

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