Airtel Africa PLC Shareholdings update (1878V)
29 Noviembre 2019 - 08:00AM
UK Regulatory
TIDMAAF
RNS Number : 1878V
Airtel Africa PLC
29 November 2019
29 November 2019
Announcement by Bharti Global Limited in respect of
Airtel Africa plc (the "Company")
Shareholdings update
The UK Panel on Takeovers and Mergers (the "Panel") has
confirmed to the Company and Bharti Global Limited ("BGL") that
members of the Bharti family and their associated companies (as
defined in the City Code on Takeovers and Mergers (the "Code")),
(together the "Bharti Family & Associated Entities") will be
presumed to be acting in concert for the purposes of the Code, in
respect of the Company (LSE: AAF; NSE: AIRTELAFRI). As a result the
interests of the Bharti Family & Associated Entities in the
Company are required to be aggregated.
BGL has confirmed to the Company that Airtel Africa Mauritius
Ltd ("AAML"), BGL and Indian Continent Investment Limited ("ICIL"),
being entities through which the Bharti family currently hold its
interests in the Company, hold 56.01%, 2.64% and 7.78% respectively
of the Company's issued share capital, which in aggregate represent
approximately 66.43% of the Company's issued share capital. AAML is
an indirect subsidiary of Bharti Airtel Ltd and ICIL is a wholly
owned subsidiary of BGL.
Rule 9 of the Code provides, among other things, that where any
person who, together with persons acting in concert with him, is
interested in shares which in aggregate carry not less than 30% but
not more than 50% of the voting rights of a company which is
subject to the Code, and such person, or any person acting in
concert with him, acquires an additional interest in shares which
increases the percentage of shares carrying voting rights in which
he is interested, then such person is normally required by the
Panel to make a general offer to all the holders of any class of
equity share capital or other class of transferable securities
carrying voting rights of that company to acquire the balance of
their interests in the company. Any person, together with persons
acting in concert with him, who holds interests in shares carrying
more than 50% of the voting rights of a company, and who acquires
an interest in shares which carry additional voting rights, will
not normally be required to make a general offer to the other
shareholders to acquire their shares.
For so long as the Bharti Family & Associated Entities hold
over 50% of the voting rights of the Company, any transfer of
shares in the Company between any of the Bharti Family &
Associated Entities and any further acquisitions of the Company's
shares by any of the Bharti Family & Associated Entities,
whether individually or collectively, will not be subject to the
restrictions of Rule 9 of the Code.
This announcement has been made with the consent of the
Company.
Enquiries:
Srikanth Balachandran, CFO, Bharti Global Ltd.
email : srikanth@bhartiglobal.com
Landline : + 44 203 9949 650
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END
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