Shareholders of PPC (“Shareholders”) are referred to announcements published on the Stock Exchange News Service (“SENS”) by PPC on 4 September 2017 and 3 October 2017 that PPC had received credible indicative proposals from trade bidders in relation to a potential pan-African combination with PPC. Further to those announcements, PPC shareholders are advised that PPC has received a non-binding expression of interest (“EOI”) from LafargeHolcim, which contemplates a combination of certain African assets, a partial cash offer and a special dividend.
LafargeHolcim intends to submit a Firm Intention Offer during the week commencing 20 November 2017, following the completion of a due diligence process.
PPC shareholders should note that the process in respect of the Fairfax Africa Investments Proprietary Limited (“Fairfax”) partial offer, announced by PPC on SENS on 4 September 2017, is still proceeding in accordance with the Independent Board process described in the announcement published on SENS by PPC on 3 October 2017, concurrently with the consideration by the Independent Board of the EOI and the consequential engagement by the Independent Board with LafargeHolcim.
PPC’s shareholders should note that this EOI may or may not lead to a Firm Intention Offer and accordingly PPC shareholders are advised to continue to exercise caution when dealing in securities of PPC until a further announcement is made.