Canal+ and MultiChoice Extend Offer Deadline to October 2025
Canal+ and MultiChoice extend acquisition offer deadline to 8 October 2025; revised transaction timeline to be published later.
The shareholders of Canal+ and holders of MultiChoice ordinary shares (“MCG Shareholders”) are referred to:
– the combined circular published by Canal+ and MCG dated 4 June 2024 (“Combined Circular”) setting out the terms and conditions of the mandatory offer by Canal+ (“Offer”) to acquire all of the issued ordinary shares of MCG not already owned by Canal+, excluding treasury shares, from MCG Shareholders for a consideration of ZAR125.00 per share, payable in cash; and
– the joint announcement released by Canal+ and MCG on the Stock Exchange News Service (“SENS”) of the JSE Limited (“JSE”) and the A2X News Service (“ANS”) on 4 March 2025, recording that MCG and Canal+ had agreed to extend the Long Stop Date for fulfilment of the Conditions to 8 October 2025.
DATES AND TIMES RELATING TO THE OFFER
On 4 March 2025, MCG and Canal+ announced that they had agreed to extend the Long Stop Date from 8 April 2025 to 8 October 2025 and were of the view that this would provide ample time for the fulfilment of the Conditions.
That position remains unchanged.
To ensure shareholders no longer rely on the timetable published in the Combined Circular, and at the request of the JSE, the Parties wish to make clear that:
– As a consequence of the extension of the Long Stop Date to 8 October 2025, the relevant dates set out in the “important dates and times” section of the Combined Circular have been extended; and
– The Parties will, in due course, publish the revised “important dates and times” section of the Combined Circular.
RESPONSIBILITY STATEMENTS
The Independent Board of MultiChoice accepts responsibility for the information contained in this announcement, to the extent that it relates to MultiChoice, and confirms that, to the best of its knowledge and belief, such information relating to MultiChoice is true and that this announcement does not omit anything likely to affect the importance of such information.
The directors of Canal+ accept responsibility for the information contained in this announcement, to the extent that it relates to Canal+, and confirm that, to the best of their knowledge and belief, such information relating to Canal+ is true and that this announcement does not omit anything likely to affect the importance of such information.
