These services include:
- Drafting and submitting of Circulars and relevant documentation, and the regulatory announcements required in terms of the JSE and the Takeover Regulations Panel and obtaining approval thereof
- Liaison with the JSE and the Takeover Regulations Panel regarding corporate actions, and ensuring compliance with the JSE
Listings Requirements and Takeover Regulations in relation to Circulars - Assisting in the formation of independent boards of directors constituted in terms of the Takeover Regulations (Independent Board), where necessary
- Providing guidance on the duties and responsibilities of the Independent Board, and advice on the application of the Companies Act, the Takeover Regulations and the JSE Listings Requirements
- Preparation of requests for dispensation / rulings and submission of same to the JSE and/or the Takeover Regulations Panel, where necessary
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Ralph Patmore, Chairman, ARB Holdings.
Merchantec Capital was the appointed Corporate Advisor to the Independent Board of ARB Holdings (“ARB”) and the Transaction Sponsor when ARB received an offer by Masimong Electrical Holdings to acquire the entire issued share capital of ARB by way of a scheme of arrangement, and the subsequent Delisting of the Company.
In this video, Ralph discusses how seamless the process was because of the way in which the services were delivered to the Independent Board and because the independent board felt that the Merchantec team was trustworthy, approachable, and always available in addition to the technical capability of the team.
Craig Chambers, Chairmen, Adapt IT.
Merchantec Capital advised the Independent Board of Adapt IT when they received an unsolicited offer by a JSE Listed Company to acquire Adapt IT through a share swap mechanism, followed by an all cash offer by a Canadian Listed Company. As discussed by Craig this was a complicated process which required a deep technical understanding of the various regulations such as the Take-over Regulations, Companies Act and the JSE Listings Requirements. Merchantec Capital offered pragmatic advice and guided the Independent Board to the successful conclusion of the process.
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