Atlas Mara releases timeline for USD100 million Fairfax offer

Atlas Mara

Atlas Mara Limited, a sub-Saharan Africa-focused banking group has released timeline for its Fairfax Africa USD100 million mandatory convertible bonds share offer.

See below the timeline and conditions:

Record Date for entitlement under the Open Offer

close of business on 8 August

Ex-entitlement date for the Open Offer

11 August

Publication of the Prospectus and posting of the Application Form

11 August

Basic Open Offer Entitlements and Excess Basic Open Offer Entitlements credited to stock accounts in CREST of Qualifying CREST Shareholders

14 August

Latest recommended time and date for requesting withdrawal of Basic Open Offer Entitlements and Excess Basic Open Offer Entitlements from CREST (i.e. if your Basic Open Offer Entitlements and Excess Basic Open Offer Entitlements are in CREST and you wish to convert them into certificated form)

 4.30 p.m. BST on 22 August

Latest recommended time and date for depositing Basic Open Offer Entitlements and Excess Basic Open Offer Entitlements into CREST (i.e. if your Basic Open Offer Entitlements and Excess Basic Open Offer Entitlements are represented by an Application Form and you wish to convert them to uncertificated form)

 3.00 p.m. BST on 23 August

Latest time and date for splitting Application Forms (to satisfy bona fidemarket claims)

3.00 p.m. BST on
24 August

Latest time and date for receipt of completed Application Forms and payment in full under the Open Offer or settlement of relevant CREST instructions (as appropriate)

11.00 a.m. BST on29 August

Results of Firm Placing and Placing and Open Offer to be announced through a Regulatory Information Service

 30 August

Dealings in New Ordinary Shares, fully paid, to commence on the London Stock Exchange

by 8.00 a.m. BST on 31 August

New Ordinary Shares credited to CREST stock accounts (uncertificated holders only)

31 August

Despatch of definitive share certificates for the New Ordinary Shares in certificated form (to Qualifying Non-CREST Shareholders only)

by no later than
8 September

Each of the times and dates in the table above is indicative only and may be subject to change, in which event details of the new times and dates will be notified to the UK Listing Authority, the London Stock Exchange and, where appropriate, to Shareholders. Capitalised terms in this announcement are as defined in the Circular, published on 30 June 2017, unless the context otherwise requires.

Atlas Mara expects to report a net profit after tax for the first six months of 2017 in line with management’s expectations for 2017 with both revenues higher and costs lower than in the comparable period of 2016. We remain on track to meet the full year guidance of targeting reported earnings for 2017 of more than double the level achieved in 2016 as provided to the market in March 2017.  Atlas Mara will announce its 2017 half-year results to the market on 7 September 2017.