CEC | Offer Document, Circular to CEC shareholders and salient dates
Announcement regarding posting of the Offer Document, the Circular to CEC shareholders and salient dates and times of the Cash Offer to CEC shareholders
- INTRODUCTION
Shareholders of CEC are referred to the Firm Intention Announcement released on LuSE SENS on 30 January 2018 and published in the press on 31 January 2018, relating to the firm intention from Zambian Transmission LLP (the “Offeror” or “Zambian Transmission”) to make a binding offer to purchase all of the ordinary shares in the capital of CEC for a cash offer price of USD0.2338 per CEC Share that will be reduced by USD0.016 per share to reflect the 2018 Dividend which each CEC Shareholder is entitled to retain (the “Offer”).
- OFFER DOCUMENT AND CIRCULAR
An offer document detailing the terms and conditions of the Offer (the “Offer Document”) has been posted to CEC Shareholders. Copies of the Offer Document may be obtained from the offices of Pangaea Securities Limited (1st Floor, Pangaea Office Park, Great East Road, Lusaka, Zambia) during normal business hours from 20 February 2018 until the date the Offer closes. The Offer Document is also available on the CEC website (https://cecinvestor.com).
A circular to the CEC Shareholders (including an independent expert’s fair and reasonable opinion to the CEC independent committee of the Board constituted for the Offer) (the “Circular”) will be posted to CEC Shareholders on or about 26 February CEC and published on the CEC website (https://cecinvestor.com).
- SALIENT DATES AND TIMES
Firm Intention Announcement released on LuSE SENS 30-Jan-18 Firm Intention Announcement published in the press 31-Jan-18 Offer Document from Zambian Transmission LLP posted to CEC Shareholders 19-Feb-18 Offer to CEC Shareholders opens at 08:00 20-Feb-18 Circular posted to CEC Shareholders 26-Feb-18 Notice of posting of this Circular released on LuSE SENS 27-Feb-18 Last Day to Trade in order to be eligible to accept the Offer 17-Apr-18 Shares trade “ex” the Offer from commencement to trade 18-Apr-18 Record date, being the final date upon which CEC Shareholders must be recorded in the register in order to be eligible to accept the Offer 20-Apr-18 Last date that the Offer can be declared unconditional 20-Apr-18 Suspension of trading in CEC Shares on the LuSE 20-Apr-18 Last day for receipt of postal acceptances, postmarked on or before to be received by 13:00 20-Apr-18 Lifting of suspension of trading in CEC Shares and date on which share transfers will be traded on the LuSE (T+0) 30-Apr-18 Settlement Date (T+4) 4-May-18 Offer Price available for collection 4-May-18 Results of the Offer released on LuSE SENS 7-May-18 Results of the Offer published in the press 8-May-18
Shareholders are, therefore, advised to continue exercising caution when dealing in their CEC shares during the Offer Period.
By order of the Board
Julia C Z Chaila (Mrs)
Company Secretary
Issued in Lusaka, Zambia on 20 February 2018
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First Issued on 20 February 2018
