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TRP grants Canal+ an extension of time to make a mandatory offer
MULTICHOICE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2018/473845/06)
JSE Share Code: MCG
ISIN: ZAE000265971
("MultiChoice" or "the Company")
TRP GRANTS CANAL+ AN EXTENSION OF TIME TO MAKE A MANDATORY OFFER
Shareholders are referred to the announcement released on the Stock Exchange News Service on 28
February 2024, informing the market of a ruling by the Takeover Regulation Panel ("TRP") that
required Groupe Canal+ SA ("Canal+") to make an immediate mandatory offer to all ordinary
shareholders of MultiChoice in terms of section 123 of the Companies Act, No. 71 of 2008.
MultiChoice notes the announcement made today by Canal+ that the TRP has granted it an extension
of 25 business days, until 8 April 2024, to make the required mandatory offer.
The MultiChoice board of directors ("the Board") will continue to act in the best interests of the
Company and its shareholders. Shareholders will be updated should there be any further
developments.
The Board accepts responsibility for the information contained in this announcement as it relates to
the Company and confirms that, to the best of its knowledge and belief, such information relating to
the Company is true and that this announcement does not omit anything likely to affect the
importance of such information.
Randburg
4 March 2024
Sponsor: Rand Merchant Bank (a division of FirstRand Bank Limited)
Important notice
Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of
incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including
MultiChoice shares deposited in terms of the American Depositary Share ("ADS") facility) so that the
aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to
South Africa (as envisaged in the MultiChoice memorandum of incorporation) will not exceed 20% of
the total voting power in MultiChoice. This is to ensure compliance with certain statutory
requirements applicable to South Africa. For this purpose, MultiChoice will presume in particular that:
- all MultiChoice shares deposited in terms of the MultiChoice ADS facility are owned or held
by foreigners to South Africa, regardless of the actual nationality of the MultiChoice ADS
holder; and
- all shareholders with an address outside of South Africa on the register of MultiChoice will be
deemed to be foreigners to South Africa, irrespective of their actual nationality or domicilium,
unless such shareholder can provide proof, to the satisfaction of the MultiChoice board, that
it should not be deemed to be a foreigner to South Africa, as envisaged in article 40.1.3 of the
MultiChoice memorandum of incorporation.
Shareholders are referred to the provisions of the MultiChoice memorandum of incorporation
available at www.MultiChoice.com for further detail.
Shareholders are further referred to ruling issued by the Takeover Regulation Panel on 27 February
2024, which ruling deals with the MultiChoice memorandum of incorporation. Shareholders can access
the ruling on the Company's website at https://www.investors.multichoice.com/regulatory.php.
If shareholders are in any doubt as to what action to take, they should seek advice from their broker,
attorney or other professional adviser.
Date: 04-03-2024 10:02:00
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