Aplitec is planning to terminate its listing on 17 February if its buyout by Newshelf 713 receives all the approvals it needs.
The group announced last month that Newshelf, a new company to be renamed Net1 Applied Technologies SA, had offered to buy it. Newshelf has no operating assets and is 100% held by funds under the management of Brait SA.
Should the deal go through, Aplitec shareholders are to receive an advance distribution of 500c per share if they elect a cash option. Shareholders who choose an option to reinvest will receive 475c a share and be able to reinvest 285c a share in the new entity.
Once all conditions to which the offer is subject have been fulfilled or waived, Brait will transfer 100% of the issued capital in Newshelf to Net1 UEPS Technologies, which is incorporated in the US.
Aplitec says its JSE-listed share will be suspended on 9 February and will be delisted on 17 February.
It says the dates are dependent on the required Aplitec shareholder approval being obtained and the fulfilment or waiver of all the suspensive conditions. It says this may take longer, provided that the latest date for the fulfilment or waiver of the conditions will be 31 May.
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