Naspers Publicizes Revised Schedule for Prosus Itemizing on Euronext Amsterdam and JSE – Enterprise Wire

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Cape City, South Africa – (BUSINESS WIRE) – Naspers Restricted (JSE: NPN; LSE: NPSN) right this moment launched a round convening the Extraordinary Common Assembly (EGM) permitting shareholders to vote on the decision to proceed its intention to listing its worldwide Web belongings as Prosus on Euronext Amsterdam. in addition to a secondary registration on the JSE. The assembly will likely be held on Friday, August 23, 2019 in Cape City, South Africa, simply after the Naspers AGM, which can start at 11:15 am.

Naspers plans to listing Prosus on Euronext Amsterdam in addition to a secondary itemizing on the Johannesburg Inventory Trade (JSE) in South Africa on Wednesday, September 11, 2019. Naspers expects to carry a minimum of 73% of the Prosus capital and float must be as much as 27%, created by Naspers by way of a Prosus fairness capital concern for Naspers shareholders (see under).

Prosus will likely be a worldwide client Web group and one of many largest know-how buyers on the earth. It’s probably that this firm will grow to be the most important listed client Web firm in Europe when it comes to the worth of its belongings. Prosus will perceive all of Naspers' Web pursuits exterior South Africa, together with its firms and investments within the on-line classifieds, funds and monetary know-how, meals distribution and distribution sectors. meals, journey, schooling and social platforms and the Web. These belongings are among the many world's fastest-growing Web manufacturers, reminiscent of Mail.ru, OLX, Avito, Letgo, PayU, Tencent, iFood, Swiggy, DeliveryHero, Udemy, eMAG and MakeMyTrip¹. Prosus will likely be a strategic investor and operator whose aim is to create main know-how firms that enhance the each day lives of individuals in fast-growing markets.

The itemizing of Prosus on Euronext Amsterdam is predicted to cut back important structural limitations to Naspers share possession, and represents one other necessary step for administration in its continued progress, thereby contributing to maximizing shareholder worth sooner or later. over time. This motion follows the unbundling of MultiChoice Group in March, which helped to unlock roughly US $ three.5 billion for Naspers shareholders.

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Bob van Dijk, CEO of Naspers Group, stated:

"After the delay to the unique schedule, I’m happy that the Prosus listing is on observe to be accomplished in September. This is a crucial step for Naspers and can present a brand new alternative for international web buyers to entry our distinctive portfolio of worldwide Web belongings, with the extra funding making a stable platform for our future progress ambitions. On the similar time, the itemizing goals to cut back our weighting on the JSE, which can clear up the market dynamics of little profit to our shareholders. We due to this fact consider that this itemizing will assist us maximize shareholder worth over time. "

After itemizing Prosus on Euronext Amsterdam, Naspers will stay the most important South African firm listed on the JSE by market capitalization and can proceed to put money into South Africa. Naspers is one in all South Africa's main know-how buyers and is dedicated to strengthening its Web and e-commerce firms within the nation, in addition to stimulating the native know-how sector by way of Naspers. Foundry. This can be a 1.four billion rand funding dedication to start-up know-how firms in South Africa searching for to satisfy the excessive wants of society. That is along with the dedication made by Naspers in October 2018 on the inaugural convention on funding in South Africa to inject a further three.2 billion rand into its investments. current actions in South Africa, which is already underneath approach. On Thursday, June 20th this 12 months, Naspers Foundry introduced its first 30 million rand funding within the South African high-tech start-up, SweepSouth.

The mechanics of capitalization

Shareholders of Naspers N will likely be allotted newly created Naspers M odd shares, which after registration will likely be exchanged for Prosus shares. Shareholders of Naspers N might elect to be issued with further Nasper N odd shares as an alternative of receiving shares of Prosus. Full particulars of the capitalization concern might be discovered within the Common Assembly Round, which might be accessed at www.prosus.com.

Suggestion of the Naspers Board of Administrators

The Naspers Board of Administrators absolutely subscribes to the proposed transaction and believes that the creation and itemizing of Prosus on Euronext Amsterdam, with a secondary introduction on the JSE, will present a stable platform for attracting further capital from buyers. , completely tailored to the expansion of Naspers. objectives. The Board recommends that each one shareholders vote in favor of the decision to be proposed on the Extraordinary Common Assembly, and every of the administrators intends to train the voting rights connected to it. all of their actions.

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The itemizing of Prosus is topic to acquiring regulatory and required approvals required by shareholders. Itemizing and buying and selling ought to start on each Euronext Amsterdam and the JSE on Wednesday, September 11, 2019.

Please go to www.prosus.com for all info regarding the proposed transaction, together with the AGE Round.

– ENDS –

About Naspers

Naspers is a worldwide client Web group and one of many largest know-how buyers on the earth. By working and investing in international locations and markets all over the world with long-term progress potential, Naspers builds main firms that empower individuals and enrich communities. The group operates and collaborates with a number of main Web firms in Central and Jap Europe, Africa, the Americas and Asia, in areas reminiscent of on-line classifieds, funds and fintech, meals supply, journey, schooling, well being and social platforms and the Web.

Each day, tens of millions of individuals use the services and products of firms during which Naspers has invested, acquired or constructed, together with Avito, Brainly, BYJU's, Codecademy, eMAG, Honor, ibibo, iFood, letgo, Media24, Movile, OLX, PayU, SimilarWeb, Swiggy, Takealot and Udemy.

Equally, lots of of tens of millions of individuals have built-in the platforms of their associates of their each day lives: Tencent (www.tencent.com, SEHK 00700), Mail.ru (www.corp.mail.ru, LSE: MAIL) , MakeMyTrip Limited¹ (www.makemytrip.com, NASDAQ: MMYT) and DeliveryHero (www.deliveryhero.com; Xetra: DHER)

At present, Naspers' firms and associates are serving to to enhance the lives of one-fifth of the world's inhabitants. Naspers is actively in search of new alternatives to associate with distinctive entrepreneurs who use know-how to satisfy the wants of society.

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Naspers is listed on the Johannesburg Inventory Trade (NPN.SJ) and secondary on the A2X (NPN.AJ) inventory change in South Africa. It’s listed at ADR on the London Inventory Trade (LSE: NPSN).

For extra info, please go to www.naspers.com

¹ In April 2019, Naspers introduced an change of its curiosity in MakeMyTrip Restricted ("MakeMyTrip") (NASDAQ: MMYT) for a 5.6% stake in Ctrip.com Worldwide Restricted ("Ctrip") (NASDAQ: CTRP) , a well known supplier of on-line journey companies and associated companies headquartered in China. The transaction is topic to customary closing circumstances, together with the receipt of required regulatory approvals, and is predicted to shut within the second half of 2019.

Warning

These paperwork are for informational functions solely and don’t represent a proposal to promote or a solicitation of a proposal to purchase or subscribe for securities of Naspers or Prosus (the "Securities") and shouldn’t be interpreted as such. The securities haven’t been and won’t be registered underneath the US Securities Act of 1933, as amended (the "Securities Act"), and won’t be provided or bought in the US. the absence of registration or an relevant exemption from registration necessities. of the Securities Act.

As a part of its itemizing and buying and selling venture on Euronext Amsterdam and the JSE, Prosus will put together a prospectus sooner or later which will likely be out there on www.prosus.com.

These paperwork embody forward-looking statements primarily based on present expectations and projections of future occasions. Ahead-looking statements can and sometimes differ considerably from precise outcomes. All forward-looking statements replicate Naspers present beliefs relating to future occasions and are topic to dangers related to future occasions and different dangers, uncertainties and assumptions. Naspers expressly disclaims any obligation or dedication to replace, revise or revise any forward-looking statements contained in these paperwork, whether or not because of new info, future developments or in any other case. You might be cautioned to not place undue reliance on forward-looking statements, which communicate solely as of the date on which they’re made.

 

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