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Finalisation and declaration announcement relating to the conversion of Class E preference shares to ordinary shares
ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
Hybrid Issuer Code: ECSH
("the Company" or "Ecsponent")
Class E Preference Shares Series No. JSE Code ISIN
Ecsponent Pref Share E1 1 ECSE1 ZAE000250155
Ecsponent Pref Share E2 2 ECSE2 ZAE000254397
Ecsponent Pref Share E3 3 ECSE3 ZAE000258869
Ecsponent Pref Share E4 4 ECSE4 ZAE000263281
Ecsponent Pref Share E5 5 ECSE5 ZAE000268363
Ecsponent Pref Share E6 6 ECSE6 ZAE000273132
Ecsponent Pref Share E7 7 ECSE7 ZAE000280947
FINALISATION AND DECLARATION ANNOUNCEMENT IN RESPECT OF THE CONVERSION OF THE CLASS E
PREFERENCE SHARES INTO ORDINARY SHARES
Security holders are referred to the announcement released on SENS on 29 May 2020 (“Announcement”), which provided
details, inter alia, relating to the conversion of the Class E preference shares into ordinary shares (“Default Conversion”).
Security holders are advised that the conversion rate applicable to Class E preference shares is as set out below:
Class ISIN Conversion ratio – number of ordinary shares for
1 (one) preference share
Class E All ISIN numbers 2771.09096
The above conversion rate is driven by the weighted average closing price of the Company’s ordinary shares, calculated
over the last twenty days of trading on the JSE prior to the first day of default, with the first day of default being 9 March
2020.
In the event that the Default Conversion gives rise to a fraction of an ordinary share becoming due to a Class E preference
shareholder, fractional entitlements will be rounded up or down to the nearest whole number in compliance with the JSE’s
rounding convention, and in accordance with the terms of the Company’s Memorandum of Incorporation.
The timetable set out in the Announcement will not change and is repeated below:
2020
Last day to trade prior to the Default Conversion becoming effective Tuesday, 4 August
Suspension in trading in the Class E preference shares Wednesday, 5 August
Commencement of trading in the ordinary shares Wednesday, 5 August
Record date for the Default Conversion (“Record Date”) Friday, 7 August
Accounts of current dematerialised Class E preference shareholders with their CSDPs or
Tuesday, 11 August
Brokers will be updated, as applicable, with the ordinary shares
Share certificates relative to the ordinary shares issued pursuant to the Default Tuesday, 11 August
Conversion to relevant certificated Class E preference shareholders, posted by registered
post, at their risk
Current Class E preference shares removed from the JSE List at commencement of trade Wednesday, 12 August
Note:
1. Class E preference shareholders may not dematerialise or rematerialise their preference shares between Tuesday,
4 August 2020 and Friday, 7 August 2020, both dates inclusive.
For more information about this announcement or the Ecsponent group, email
investor.relations@ecsponent.com or visit www.ecsponentlimited.com/investor-relations.
21 July 2020
Pretoria
Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd
Date: 21-07-2020 10:58:00
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