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FINBOND GROUP LIMITED - Notification in terms of section 122(3) of the Companies Act and section 3.83(b) of the JSE Listings Requirements

Release Date: 09/03/2022 17:00
Code(s): FGL     PDF:  
Wrap Text
Notification in terms of section 122(3) of the Companies Act and section 3.83(b) of
the JSE Listings Requirements

Finbond Group Limited
(Registration number: 2001/015761/06)
Share code: FGL ISIN: ZAE000138095
(“Finbond” or “the Company” or “FGL”)

NOTIFICATION IN TERMS OF SECTION 122(3) OF THE COMPANIES ACT AND SECTION 3.83(B) OF
THE JSE LISTINGS REQUIREMENTS

In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 ("the Act"),
and section 3.83(b) of the JSE Limited Listings Requirements, holders of ordinary
shares in the Company are advised that Protea Asset Management LLC (“Protea”) has
disposed of a beneficial interest in ordinary shares of the Company ("the
securities"), such that their shareholding in the securities of the Company amounts
to 18.24% of the total number of shares in issue.

Finbond hereby confirms that it has received the required notice from Protea in
terms of section 122(3)(a) of the Act, and that it has filed the required notices
with the Takeover Regulation Panel.

As announced on SENS on 3 March 2021, the disposal of shares forms part of a
distribution to underlying investors in Protea funds, so that instead of owning
these shares indirectly through the funds, the underlying investors will now own
the shares directly, by way of a distribution in kind of the shares.

Protea explained their rationale for the distribution as follows:

“The distribution will improve Finbond’s public shareholder spread and the liquidity
and tradability of Finbond’s shares on the JSE.”




9 March 2022
Pretoria

Sponsor
Grindrod Bank Limited

Date: 09-03-2022 05:00:00
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