Companies & Markets - Featured - Regional - Top Stories - February 25, 2021

Seed Co Ltd offer closed

The Boards of Seed Co International Limited (SCIL) and Seed Co Limited (SCL) have closed the irrevocable and unconditional acceptances of the Offer by SCIL to SCL.

In terms of the Offer timetable, the last day to trade in SCL shares was 23 February 2021 and they closed at 84%.

In a joint statement company secretaries of, Eric Kalaote SCIL and Terrence Chimanya SCL, said the Secondary Offer is still open and will close on 2 March 2021 and accordingly, remaining and willing SCL shareholders are reminded that duly completed irrevocable and unconditional Forms of Acceptance.

“As specified in the Circular to SCL shareholders published on 13 January 2021 and the subsequent announcements made thereafter, and in accordance with the ZSE Listings Requirements, SCIL will proceed to cause the voluntary delisting of SCL from the Zimbabwe Stock Exchange (“ZSE”) upon the closure of the Secondary Offer on 2 March 2021,“ read the statement.

Consequently, once delisted, any remaining SCL shareholders will not be able to trade their shares freely in the absence of a public market platform and an easily determinable reference price.

“Shareholders and the investing public are reminded of SCIL’s strategic plan to achieve full consolidation of SCL on successful completion of the acquisition transaction,” read the statement.

Pending completion of the Secondary Offer, shareholders and the investing public are advised to continue exercising caution when dealing in the securities of SCIL.

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