26 Aug - 2 min read

Cautionary Announcement

Cautionary Announcement

(Incorporated in the Republic of South Africa)
(Registration number 2008/015990/06)
(“NVest” or “the Company”)
ISIN Code: ZAE000199865      JSE Code: NVE


Shareholders are advised that on Wednesday, 25 August 2021, NVest received a non-binding
expression of interest (“EOI”) from a consortium of investors made up of the Godwin Trust, the
Gavin Ramsay Family Trust and the Rayner Sparg Trust (“the Consortium”).

The EOI is in respect of a possible transaction whereby the Consortium would acquire 100% of all
the issued ordinary shares in NVest not already held by related parties, directors and management
of NVest, excluding any treasury shares (“the Transaction”).

If the Transaction is successfully implemented, which would be done by way of a scheme of
arrangement in terms of section 114 of the Companies Act, 71 of 2008, and which would be
subject to the fulfilment of certain conditions precedent, application will be made to the JSE for
the issued ordinary shares of NVest to be delisted.

The Consortium’s indicative offer price is R2.10 (210 cents) per share, payable in cash.

The EOI, which contains terms and conditions customary for a transaction of this nature, does not
constitute an offer or a firm intention to make an offer as contemplated by the Companies Act
Regulation 101. It is possible that no offer may result from this process.

The Transaction may have a material effect on the price of the Company’s securities.
Accordingly, pending further announcements, shareholders are advised to exercise caution when
dealing in the Company’s securities.

The Board, and the Independent Board, which has recently been appointed, each accepts
responsibility for the information contained in this announcement to the extent that it relates to the
Company. To the best of their knowledge and belief, the information contained in this
announcement is true and nothing has been omitted which is likely to affect the importance of
the information.

East London
26 August 2021

Designated Advisor
AcaciaCap Advisors Proprietary Limited

Date: 26-08-2021 02:13:00
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.
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Nvest Financial Holdings Limited (JSE:NVE) when you join Listcorp.