CEC | Extension of offer period

By Published On: May 22nd, 2018Categories: Corporate announcement


This Announcement is issued further to the earlier Announcement by the Company of 20th April 2018 in relation to the offer from Zambian Transmission LLP (the “Offeror”) to purchase all of the ordinary shares in the capital of CEC (the “Offer”). The full terms of, and conditions to, the Offer were set out in the offer document dated 20th February 2018 (the “Offer Document”). Defined terms used but not defined in this Announcement have the same meanings as those set out in the Offer Document. The Offeror has now advised that the outstanding condition to the Offer had not been satisfied or waived as at 17:00 hours on 18th May 2018, being the closing date of the Offer as extended with the consent of the Securities and Exchange Commission (“SEC”).

The Offeror has formally advised the Board of Directors of the Company that the SEC has authorised the extension of the Offer Period which was due to expire at 17:00 hours on 18th May 2018 for a further period of 60 days commencing on 19th May 2018. As a result, the Offer will now expire on 17th July 2018.

The extension has been granted in line with the terms of the Offer.

Consequent to the foregoing, other than the revision of the timelines as set out in this announcement, all other terms of the Offer as contained in the Offer Document remain unchanged.

Having regard to the extension, the revised important dates relating to the Offer are set out in the table below.

Event Date
Opening Date of the Offer 20 February 2018
Offer Closing Date and Record Date 17 July 2018
Suspension of trading in CEC Shares on LuSE 17 July 2018
Last day for receiving postal acceptances 17 July 2018
Lifting of Suspension of Trading, Placing of Sale Order and Trade Date 5 August 2018
Settlement Date 8 August 2018

Julia Chaila
Company Secretary
Issued in Lusaka, Zambia on 21st May 2018

Lusaka Securities Exchange Sponsoring Broker
T: +260-211-232456

E: [email protected]

W: www.sbz.com.zm

Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 21st May 2018

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