Secondary placing of Karoo shares

RNS Number : 1658C

Capital & Regional plc

14 October 2015

 



14 October 2015

SECONDARY PLACING OF KAROO SHARES

On 13 October 2015 Capital & Regional plc (the Company) received notification that Karoo Investment Fund ("Karoo") has made arrangements to dispose of or transfer in specie the entirety of its 70,040,911 holding of ordinary shares in the Company, held on the Company's sub-register on the Johannesburg Stock Exchange, representing 9.995% of the Company's issued share capital. 

The underlying shareholders in Karoo have been given the choice of receiving their pro-rata entitlement in shares of the Company or electing for their interest to be sold for cash.  To facilitate the latter Karoo has appointed Java Capital to manage an imminent placing in the South African market.  It is expected this will involve the sale of up to approximately half of Karoo's holding with the remainder being transferred in specie to the respective underlying holders.

Louis Norval and his connected parties have interests in the underlying shareholders of Karoo that equate to approximately 40% of Karoo's current shareholding in the Company.  Wessel Hamman is also a Director of Karoo.

ENDS

 

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