Dear Samoa Breweries Limited shareholders,
PARADISE BEVERAGES (FIJI) LIMITED (‘PBL’) COMPULSORY ACQUISITION
As you will be aware, Samoa Breweries Limited (‘SBL’) recently commenced a share buyback process. The terms of the offer in that process were contained in the explanatory letter to shareholders and accompanying documentation.
Since commencement of that process, PBL now holds more than 95% of the ordinary shares in SBL. PBL now intends to exercise its right to compulsorily acquire the remaining SBL shares in which PBL does not hold pursuant to the compulsory acquisition provisions contained in the Company Model Rules of SBL.
The compulsory acquisition will be on the same terms as the share buy-back process, (i.e. a consideration of WST$1.00 for every 1 SBL share held):
- SBL shareholders who have already accepted the share buy-back offer have essentially sold their shares and will not be part of the PBL compulsory acquisition process
- SBL shareholders who did not participate in the share buy-back offer will automatically have their shares acquired via the PBL compulsory acquisition process.
PBL has paid to SBL the consideration required to pay for minority shares under the compulsory acquisition process. These moneys will be held by SBL for that purpose.
Please find attached the formal compulsory acquisition notice in relation to your SBL shares which sets out the compulsory acquisition process, payment details and timing.
If you have any questions, please email us at [email protected]
PBL CA Signed Notice