Altron has made an offer to acquire Altech. The amount payable by Altron to Altech shareholders will be settled with R47.50 in cash for every Altech share.
Altech shareholders may elect to receive all or part of the consideration in the form of Altron participating preference shares.
The cash consideration and share consideration represent a premium of 31,1% to the volume weighted average price (VWAP) of Altech Shares traded on the securities exchange operated by the JSE over the 30 business days up to the date on which the first cautionary announcement was released.
The Proposed Transaction will create a single listed point of entry into the Altron Group, simplify the corporate and operating structure of the Altron Group, and enable the maximisation of synergies within the Altron Group.
The posting of the circular to Altech shareholders is subject to the requisite approvals being received from the JSE, the Takeover Regulation Panel (TRP) and the South African Reserve Bank (SARB)
Altech shareholders may elect to receive all or part of the consideration in the form of Altron participating preference shares.
The cash consideration and share consideration represent a premium of 31,1% to the volume weighted average price (VWAP) of Altech Shares traded on the securities exchange operated by the JSE over the 30 business days up to the date on which the first cautionary announcement was released.
The Proposed Transaction will create a single listed point of entry into the Altron Group, simplify the corporate and operating structure of the Altron Group, and enable the maximisation of synergies within the Altron Group.
The posting of the circular to Altech shareholders is subject to the requisite approvals being received from the JSE, the Takeover Regulation Panel (TRP) and the South African Reserve Bank (SARB)