African Sun (Zimbabwe) Notice to Shareholders on the Drag Along and Squeeze Out

By Published On: November 23rd, 2021Categories: Corporate announcement

The Boards and Management of African Sun Limited (“ASL”) and Dawn Properties Limited (“DPL”) wish to advise their valued shareholders and members of the public that the allotment of ASL shares to the remaining DPL shareholders who accepted ASL’s subsequent Offer to acquire their DPL shares on a basis 1 ASL ordinary share for every 3.988075946 DPL Ordinary shares held via the Drag Along and Squeeze Out in terms of Provisions of the Companies and Other Business Entities Act, Chapter 24:31, will take place once ASL has received clarity from the Zimbabwe Revenue Authority (“Zimra”) regarding the treatment of the Capital Gains Tax to be applied to the sale of the remaining DPL shareholders’ shares to ASL. This follows the pending share trade being executed on the basis of DPL now having been delisted, as was the case when the first allotment occurred.

We wish to thank all the shareholders and the investing public for their continued support and confidence in the Company’s vision.

By order of the Boards,

Venon Musimbe
Company Secretary
15 November 2021