Listing of RH Bophelo on the main board of the JSE Limited (“JSE”) and Abridged Pre-Listing Statement
RH BOPHELO LIMITED
(Previously Newshelf 1388 Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2016/533398/06)
(JSE Share Code: RHB, ISIN: ZAE000244737)
(“RH Bophelo” or “the Company”)
LISTING OF RH BOPHELO ON THE MAIN BOARD OF THE JSE LIMITED (“JSE”) AND ABRIDGED PRE-LISTING STATEMENT (“ABRIDGED PRE-LISTING STATEMENT”)
This Abridged Pre-listing Statement has been issued in connection with the Private Placement in South Africa only and is addressed only to Invited Investors to whom the Private Placement may lawfully be made. The distribution of this Abridged Pre-listing Statement and the making of an offer by means of the Private Placement may be restricted by law. Persons into whose possession this Abridged Pre-listing Statement comes must inform themselves about and observe any and all such restrictions. This Abridged Pre-listing Statement does not constitute an offer of or invitation to subscribe for and/or purchase any shares in any jurisdiction in which the offer would be unlawful. This Abridged Pre-listing Statement is not an invitation to the public to subscribe for securities, but is issued in compliance with the Listings Requirements, for the purpose of providing information to the public with regard to RH Bophelo.
1.1 The board of directors of RH Bophelo (“Board”) intends to list RH Bophelo on the main board of the JSE (“Listing”) as a special purpose acquisition company (“SPAC”) as envisaged in the Listings Requirements of the JSE (“Listings Requirements”), being a special purpose vehicle established to facilitate the primary capital raising process to enable the acquisition of assets which meet the investment policy and investment strategy set out in paragraphs 4.3 and 4.4 below, which, if acquired, will enable RH Bophelo to qualify for a listing, other than as a SPAC, pursuant to the main board listing criteria of the JSE (“Viable Asset(s)”).
1.2 It is the Board’s intention to pursue, in compliance with the Listings Requirements pertaining to a SPAC, a strategy of investing in Viable Assets within the private healthcare sector and more specifically:
- Operating hospitals;
- Brownfield projects (where licenses are in place);
- Other healthcare funds; and
- Related healthcare sub-sectors.
1.3 In anticipation of the Listing, RH Bophelo intends to raise a minimum of R500 000 000 by way of an offer to a limited number of specifically selected and invited investors in South Africa (“Private Placement”) to whom the Private Placement will be addressed (“Invited Investors”) in order to subscribe for 50 000 000 ordinary shares with no par value in the Company (“Private Placement Shares”) at a price of R10 per Private Placement Share (“Issue Price”).
1.4 RH Bophelo has been granted a listing of all its ordinary shares on the main board of the JSE with effect from the commencement of trade on Wednesday, 12 July 2017, subject to the Company raising the minimum amount of R500 000 000 in terms of the Private Placement.
Source: 5 JULY 2017 – Moneyweb