Jacobs Douwe Egberts makes a pre – conditional offer for all of Super Group Ltd for S$1.30 per share in cash , backed by irrevocable commitments representing 60 % of shares issued
Singapore –Nov 3,2016 –
Super Group Ltd (SGX : S10.SI) (“SuperGroup”) and Sapphire Investments BV (“Sapphire”), an indirect wholly owned subsidiary of Jacobs Douwe Egberts BV (“JDE”),today announced that Sapphire has made a pre-conditional offer to acquire all the issued shares of SuperGroup,supported by irrevocable commitments received from
shareholders representing 60% of SuperGroup’s issued shares to tender their shares in the offer.This includes an
irrevocable commitment from YHS Investment,holding 11.69% of Super Group’s issued shares,whose undertakingto accept is subject to approval of its shareholders.
The offer will be at a price of S$1.30 per share or a total aggregate consideration of approximately
S$1.45 billion. The offer price represents a premium of:
approximately 34.0% over the last traded price per share as quoted on the Singapore Exchange on October 31
,2016, the date on which the shares were last traded on the Singapore Exchange prior to the trading halt on the shares which was called on October 31,2016;
approximately 62.6% over the volume weighted average share price of Super Group for the three month period ending
October 4, 2016, the last trading day of the shares prior to the date on which a query regarding trading activity was received on October 5, 2016 by Super Group from the Singapore Exchange.
The commencement of the offer is subject to the receipt of regulatory approvals.
The offer will be conditional upon Sapphire receiving more than 50%of Super Group’s issued shares being tendered
in acceptance of the offer. If Sapphire acquires 90% of the issued shares pursuant to the offer,
Sapphire intends to exercise its right to compulsorily acquire the remaining shares and privatise Super Group.
About Super Group.
Founded in 1987, the Company is a leading pan-Asian integrated instant food and beverage brand owner and manufacturer. Under its core Branded Consumer segment, the Company and its subsidiaries manufacture and distribute branded consumer products, primarily instant coffee and tea,
instant tea mixes and instant cereals, with a portfolio of over 160 instant beverage
and food products distributed in over 65 countries under multiple iconic brands such as
Super, Essenso, OWL and Nutremill. Under its complementary Food Ingredients segment, the
Company is one of the few companies in the world with raw material selection and manufacturing
capabilities in non-dairy creamer, instant soluble coffee powder and cereal flakes.
Super Group currently operates 15 state -of-the- art manufacturing facilities located in China, Malaysia, Myanmar,
Singapore, Thailand and Vietnam.