Mar 2015 Financial News

RBL - HFC Mandatory Offer

Mar 25, 2015

NOTICE PURSUANT TO SECTION 64(1)(b) of the Securities Act 2012

REPUBLIC BANK LIMITED PROCEEDS WITH MANDATORY OFFER TO ALL SHAREHOLDERS OF HFC BANK (GHANA) LIMITED

Republic Bank Limited is please to announce that the Ghana Securities & Exchange Commission has approved our Offer Document, which has been delivered to HFC Bank in accordance with the provisions of Ghana’s Code on Takeovers & Mergers (the Code).

The Offer to all shareholders of HFC Bank is at a price of GHS1.60 (approximately USD 0.44) per share payable in cash.

The Offer is subject at all times to the provisions of the Code and the Listing Rules of the Ghana Stock Exchange, which governs the mandatory offer process. Republic Bank is committed to following the timelines of the mandatory offer process. This includes a requirement that HFC Bank circulates the Offer Document to all shareholders within 15 days of the date of receipt of the document.

Shareholders of HFC Bank will have until 7th May 2015 to accept the offer, and it is estimated that the offer process will be completed by 21st May 2015.

We look forward to working with HFC Bank to complete this process.

Jacqueline Quamina
Corporate Secretary/Group General Counsel
25th March 2015

Source:
The Trinidad and Tobago Stock Exchange Limited
Wednesday March 25, 2015