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SAB extends Zenzele Retailer offer
South African Breweries Limited (SAB) on Wednesday, 7 April 2010, announced that the closing date for participation in the retailer component of its broad-based empowerment transaction, called SAB Zenzele, has been extended.
The closing date of the offer has been extended from 7 April to close of business of the relevant Post Office on Wednesday, 28 April 2010.
The closing date for participation by qualifying retailers has been extended for a number of reasons. Significant interest has been expressed in the offer, but not all potential applicants managed to complete and/or submit their applications in time.
In addition, some applicants have submitted incomplete documentation in support of their applications and some applicants did not subscribe for funds within the bands specified in the prospectus.
The extension in the closing date will allow one last opportunity to participate, and will allow those who have applied to submit missing documentation or 'top up' subscriptions.
SAB has been encouraged by the high level of interest from retailers in the offer.
There has been good attendance at workshops, as well as ongoing requests by retailers for assistance to apply for their licences.
SAB Zenzele represents the company's effort to help thousands of South Africans to take an important step forward in creating better lives for themselves.
It is estimated that allocations and posting of share confirmations will take place at the beginning of June.
Source: I-Net Bridge
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