Aqua Online Holdings says it may have to restructure its proposal to dispose of its underlying businesses and delist from the JSE before receiving regulatory approval.
Aqua`s proposal to delist involves a series of deals to dispose of its gaming and enablement divisions as going concerns.
The proceeds will be used to delist the company, which will be carried out by a voluntary winding-up of the listed shell after the disposals.
The group says in an update to shareholders that it is still awaiting certain regulatory approvals before it can issue a circular.
"The transaction may need to be restructured to accommodate amendments required to ensure approval," it says.
In terms of the proposal announced last year, Aqua is to make an initial distribution of 14c a share to its shareholders.
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