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HULAMIN LIMITED - Withdrawal of cautionary announcement

Release Date: 06/06/2022 13:15
Code(s): HLM     PDF:  
Wrap Text
Withdrawal of cautionary announcement

HULAMIN LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1940/013924/06
JSE Code: HLM
ISIN: ZAE000096210
(“Hulamin”, the “Group” or the “Company”)

WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the cautionary announcement published by the Company on SENS on 14
October 2021 and the subsequent renewals thereof, the last of which was dated 23 May 2022.

In August 2021, Hulamin received an expression of interest to acquire the business. The view of the
Hulamin board of directors was that this potential transaction was beneficial to Hulamin and would
facilitate the growth of the business. Following lengthy discussions and due process, the parties
concluded on a deal price that was put forward by the offeror which was considered fair and
reasonable to the shareholders by an independent board and which constituted a substantial
premium to the current Hulamin share price. The offeror undertook a comprehensive due diligence
which was successfully completed to their satisfaction.

The offeror was, however, unable to agree satisfactory terms with all stakeholders. In addition, the
offeror has become concerned about recent global economic uncertainly. For these reasons the
offeror indicated that it was unable to conclude this potential transaction.

The offeror has accordingly terminated discussions and caution is no longer required to be exercised
when dealing in the Company’s securities.


Pietermaritzburg
6 June 2022

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 06-06-2022 01:15:00
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