21 Jun 2019
Proposed listing of Naspers’ international internet assets on Euronext Amsterdam & secondary, inward listing on Johannesburg Stock Exchange
CHANGE TO TRANSACTION TIMELINE
- Shareholder approval to be sought at EGM on 23 August, not on 28 June 2019
- Naspers targets September for NewCo listing
Naspers today confirmed a change to the timetable regarding its intention to list a new global consumer internet group (NewCo) comprising its international internet assets on Euronext Amsterdam with a secondary, inward listing on the JSE.
The Extraordinary General Meeting (EGM), which was convened by an EGM circular published on 29 May 2019 and scheduled for Friday 28 June, has been cancelled. Instead, shareholders will be asked to consider the listing and vote on the resolution to proceed with the listing at an EGM, which will immediately follow the Naspers AGM in Cape Town on Friday 23 August.
Reason for delay
An administrative error by an external service provider has resulted in certain of the copies of the circular delivered to shareholders being incorrectly labelled. The service provider concerned has advised Naspers that the error occurred in pairing the names and addresses of some shareholders for purposes of printing labels on the envelopes in which the physical copies of the circular were delivered to certain shareholders. This meant that some circulars were sent to the correct addresses of the affected shareholders, but that incorrect names appeared on these envelopes (i.e. the name and address did not match). This could in some cases lead to confusion.
So as to allow all shareholders equal opportunity to fully consider the circular and resolution, the board has decided to withdraw the notice of the general meeting and consequently cancel the general meeting to which the notice related. The new general meeting of shareholders to consider the proposed transaction will now be held on the same date as the Naspers annual general meeting, scheduled for Friday 23 August 2019.
Naspers will keep shareholders updated in relation to the revised timetable for implementation of the proposed transaction. Subject to the valid adoption of the resolution required, Naspers expects the proposed transaction to be implemented in September 2019.
Naspers Board Recommendation
The Naspers board remains fully supportive of the proposed transaction and the potential benefits that could be realised by forming and listing a new, global consumer internet group on Euronext Amsterdam, with a secondary, inward listing on the JSE.
Full details of the proposed listing are at www.newglobaltechgroup.com
For more information contact:
Eoin Ryan
Head of Investor Relations
Tel: +1 347-210-4305
Email: [email protected]
Sarah Ryan
Media Relations, International
Mobile: +31 6 297 21038
Email: [email protected]
Shamiela Letsoalo
Media Relations, South Africa
Tel: +27 11 289 3750
Mobile: +27 78 802 6310
Email: [email protected]
About Naspers
Naspers is a global consumer internet group and one of the largest technology investors in the world. Operating and investing in countries and markets across the world with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. Central and Eastern Europe, Africa, the Americas and Asia in sectors including online classifieds, payments and fintech, food delivery, travel, education, health, and social and internet platforms.
Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, BYJU’S, Codecademy, eMAG, Honor, ibibo, iFood, letgo, Media24, Movile, OLX, PayU, SimilarWeb, Swiggy, Takealot, and Udemy.
Similarly, hundreds of millions of people have made the platforms of its associates a part of their daily lives: Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT) and DeliveryHero (www.deliveryhero.com; Xetra: DHER)
Today, Naspers companies and associates help improve the lives of around a fifth of the world’s population. Naspers actively searches for new opportunities to partner exceptional entrepreneurs who are using technology to address big societal needs.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).
For more information, please visit www.naspers.com.
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About Naspers
Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam, and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies. These include Takealot, Mr D Food, Superbalist, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ), a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has a level 1 American Depository Receipt (ADR) programme which trades on an over-the-counter basis in the United States of America.
For more information, please visit www.naspers.com.
Naspers Labs
In 2019, Naspers Labs, a youth development programme designed to transform and launch South Africa’s unemployed youth into economic activity, was launched. Naspers Labs focuses on digital skills and training, enabling young people to pursue tech careers.
Response to COVID-19
Naspers contributed R1.5 billion of emergency aid to support the South African government’s response to the COVID-19 pandemic. This contribution consisted of R500 million towards the Solidarity Fund and R1 billion worth of PPE sourced and distributed to South Africa’s front-line healthcare workers. In addition, Naspers contributed R6.9 million to the Nelson Mandela Foundation's EachOne FeedOne programme to support families who COVID-19 has impacted with meals for a year.