February 28, 2020 / 10:09 AM / a month ago

BRIEF-African Phoenix Investments Ends Proposed Merger Talks With Zarclear

Feb 28 (Reuters) - African Phoenix Investments Ltd:

* TERMINATION OF PROPOSED MERGER DISCUSSIONS, DELISTING OF AFRICAN PHOENIX AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

* DECIDED TO PROCEED WITH A DELISTING OF COMPANY’S SHARES FROM TRADING ON JSE

* NOT TO PROGRESS PROPOSED MERGER WITH ZARCLEAR HOLDINGS

* LEGAE PERESEC PROPRIETARY TO BUY AXL SHARES FROM ANY SHAREHOLDER WHO DOES NOT WISH TO HOLD SHARES POST DELISTING

* LEGAE PERESEC TO BUY AXL SHARES FROM ANY SHAREHOLDER WHO DOES NOT WISH TO HOLD SHARES AT OFFER PRICE OF 40 CENTS/SHARE Source text for Eikon: Further company coverage:

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