Salient Dates And Terms Of The Mandatory Offer By Huaxin (Hainan) Inv Co Ltd To The Minority Shareholders Of Chilanga Cement

Salient Dates And Terms Of The Mandatory Offer By Huaxin (Hainan) Inv Co Ltd To The Minority Shareholders Of Chilanga Cement

| Chilanga Cement Plc | Salient Dates And Terms Of The Mandatory Offer By Huaxin (Hainan) Inv Co Ltd To The Minority Shareholders Of Chilanga Cement

 

In the Cautionary announcement dated 11 June 2021 and in compliance with the Listings
Requirements of the Lusaka Securities Exchange (“LuSE”), the shareholders of Chilanga Cement
Plc (“Chilanga Cement” or the “Company”) were advised that an agreement for the sale and
purchase of 75% of shares in the Company was executed between the Majority shareholders
Financière Lafarge SAS (“Financière Lafarge”), Pan African Cement Ltd (“Pan African”) and
Huaxin (Hainan) Investment Co., Ltd. (“Huaxin”) whereby Financière Lafarge and Pan African
agreed to sell their shares to Huaxin (the “Transaction”).

On 30 November 2021, the company announced to the market that Huaxin has acquired 75.00%
shareholding via trades conducted on the LuSE at ZMW13.16 per share and the purchase
consideration was subject to a post-completion price adjustment. After the adjustment exercise,
the final price stands at ZMW13.38 per share.

Accordingly, Chilanga Cement hereby announces that the price adjustment exercise has been
completed and that Huaxin is proceeding to make a Mandatory Offer (the “Offer”) to acquire the
shares in Chilanga Cement not already owned by Huaxin from the minority shareholders of
Chilanga Cement.

  • March 7, 2022 Create Date
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  • Expiry Date