SAB releases the results for Zenzele share offer

SOUTH African Breweries and SAB Zenzele Holdings yesterday announced the results of the offer of SAB Zenzele shares to qualifying applicants.

SOUTH African Breweries and SAB Zenzele Holdings yesterday announced the results of the offer of SAB Zenzele shares to qualifying applicants.

In terms of the offer, black-owned licensed liquor retailers and liquor licence applicants, as well as registered black-owned customers of ABI, the soft drinks division of SAB, were invited to apply for 19228250 ordinary shares in SAB Zenzele.

The offer, which closed on April 28, attracted over 33000 applications and was 29percent oversubscribed.

Following the allocation process, this has resulted in the introduction of a broad base of 29542 black shareholders in SAB Zenzele, which now owns 3,52percent of SAB.

This is in addition to the 3,39percent of SAB, which is owned by SAB Zenzele Employee Trust for the benefit of 9416 of SAB's employees and 1,54percent of SAB.

The shares in SAB were issued to SAB Zenzele, SAB Zenzele Employee Trust and the SAB Foundation yesterday.

"We are delighted with the response," said SAB managing director and chairpersonNorman Adami.

There are now 29542 retailer shareholders in SAB Zenzele and retailer shareholders hold a minimum of 317 SAB Zenzele shares each, which equates to a value of about R50000.

Some 40percent of the SAB Zenzele shares are held by black women or groups controlled by black women and 63percent of the retailer shareholders hold the minimum number of 317 SAB Zenzele shares. - I-Net Bridge

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