Fairfax Africa now owns 42.4% equity in Atlas Mara

Atlas Mara

Atlas Mara, a sub-Saharan Africa focused financial services group said Fairfax Africa now holds 42.4% of its total equity.

The latest disclosure is a fall out of the completed Strategic Financing (comprising a Mandatory Convertible Bond and a Firm Placing and Open Offer), the Company’s existing shareholders subscribed for 18,407,996 New Ordinary Shares in the Open Offer, and that Fairfax Africa’s shareholding in the Company equals 70,758,670 ordinary shares. As a result, Fairfax Africa currently owns 42.4% of the ordinary shares in the capital of the Company.

The New Ordinary Shares issued under the Strategic Financing were admitted to trading on the Main Market of the London Stock Exchange PLC as a Standard Listing on 31 August 2017 at 8.00 a.m. The New Ordinary Shares rank pari passu in all respects with the Existing Ordinary Shares.

The Company now has 172,258,735 ordinary shares in issue, of which 1,977,096 are held in treasury and 3,298,298 shares continue to be held in escrow as part of the acquisition-related contingent consideration disclosed to the market on 1 July 2016.

Atlas Mara hereby confirms that the total number of voting rights in Atlas Mara equals 166,983,341. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Atlas Mara under the DTRs.