Results of the general offer to KLK Shareholders

20-05-2019

Name of Issuer Senwes Limited Name of Issuer Senwesbel Limited Name of Issuer KLK Landbou Limited
Country of Incorporation ZA Country of Incorporation ZA Country of Incorporation ZA
Registration Number 1997/005336/06 Registration Number 1996/017629/06 Registration Number 1997/015589/06
ISIN Number ZAEZ00000018 ISIN Number ZAEZ00000026 (”KLK”)
Share Code ZXSWS Share Code ZXSWB

(collectively referred to below as “the Senwes Group”)

RESULTS OF THE GENERAL OFFER TO KLK SHAREHOLDERS

The Senwes Group and the KLK independent board refer the Senwes Group shareholders and the KLK shareholders to the announcements of respectively 11 March 2019 and 30 April 2019 regarding the offer made by the Senwes Group to KLK Shareholders (”the Offer”) and hereby confirm that the Offer closed on 16 May 2019 at 12:00 (subject to the provisions of regulation 105(5)(b) of the Companies Regulations, 2011 (”Regulations”) as referred to below in this announcement).

In terms of the provisions of the Offer, approval for the transaction was granted by the Competition Tribunal.

It is confirmed that the Takeover Regulation Panel has issued a compliance certificate in respect of the Offer in terms of the provisions of sections 119 (4)(b) and 121(b)(i) of the Companies Act, 2008. This fulfils the last of the conditions precedent to the Offer, and the Offer is accordingly unconditional in all respects and may proceed to be implemented. After implementation, the Senwes Group shall be the controlling shareholder.

The revised timeline for the implementation of the Offer is as follows:

2019
Payment of the Cash Consideration and issue of Consideration Shares Within 6 (six) business days after this announcement

As required by regulation 105(5)(b) of the Regulations, KLK shareholders are advised that the Offer is to remain open for another 10(ten) business days after the date of this announcement. Those KLK shareholders that accept the Offer during this additional statutory period shall have their consideration settled within 6 (six) business days after their acceptance is received by the Senwes Group, as required by regulation 102(12)(b) of the Regulations.

By order of the respective boards of the Senwes Group and the independent board of KLK.

JPN Stander (Mr) EM Joynt (Mrs)
Chairman of the Klk Tel no. (018) 464 7104
Independent Board Appointed Advisor Of The Senwes Group
Upington Klerksdorp


20 May 2019