https://www.miningweekly.com

Petmin to delist by June as Bidco buyout becomes unconditional

23rd May 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – JSE-listed Petmin on Tuesday announced that it was on track for a June delisting from the Johannesburg bourse as newly incorporated public company Bidco’s acquisition of all or a portion of its issued ordinary shares becomes unconditional.

Petmin expected to terminate its listing of shares on the main board of the JSE on June 7, with the suspension of trading scheduled for May 31, as all the conditions of the scheme of arrangement were fulfilled and the standby offer had lapsed.

The firm intention tabled by Bidco in December comprised two separate but concurrent offers – a scheme and a standby offer – to acquire Petmin’s shares, excluding those held by Petmin’s subsidiaries.

An implementation agreement was entered into with midmarket private equity business Capitalworks Private Equity, acting in its capacity as Bidco's general partner of the special purpose acquisition partnership.

The offer will be settled at a price of R1.55 for each Petmin share.

Edited by Creamer Media Reporter

Comments

Latest Multimedia

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
Updated 6 hours ago

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.055 0.092s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: