Edition:
United Kingdom

Shoprite Enters Agreement With Thibault, Titan To Terminate Deal


Monday, 3 Jun 2019 

June 3 (Reuters) - Shoprite Holdings Ltd ::JSE: SHP - UPDATE ON THE PROPOSED TRANSACTION WITH THE SHOPRITE HOLDINGS DEFERED SHARES.SHOPRITE HOLDINGS LTD - ENGAGED WITH SHAREHOLDERS HOLDING OVER TWO-THIRDS SHARE CAPITAL.SHOPRITE - GOT WRITTEN NOTIFICATIONS FROM OVER 15% OF SHAREHOLDERS INDICATING THEY WILL NOT VOTE IN FAVOUR OF RESOLUTIONS REQUIRED FOR PROPOSED DEAL.SHOPRITE - SHOPRITE, THIBAULT, TITAN, ENTERED CANCELLATION AGREEMENT ON 3 JUNE 2019 TO TERMINATE TRANSACTION AGREEMENT WITH IMMEDIATE EFFECT.SHOPRITE HOLDINGS - EFFECT OF CANCELLATION AGREEMENT ON 3 JUNE OF TRANSACTION AGREEMENT IS THAT PROPOSED TRANSACTION WILL NOT BE IMPLEMENTED.