February 21, 2018 / 2:51 PM / 6 months ago

BRIEF-Niveus Investments Announces Unbundling Of Shares In Niveus Invest 17 Proprietary Ltd

Feb 21 (Reuters) - Niveus Investments Ltd:

* SUBSIDIARY LA CONCORDE INTENDS TO UNBUNDLE 110 000 000 SHARES IN NIVEUS INVEST 17 PROPRIETARY AFTER IMPLEMENTATION OF GABS ACQUISITION​

* UNBUNDLING ‍COMPRISING ABOUT 38% OF TOTAL ISSUED SHARE CAPITAL OF HOSKEN PASSENGER LOGISTICS AND RAIL LTD

* UNBUNDLING TO TAKE PLACE ‍BY WAY OF A DISTRIBUTION IN SPECIE PRO RATA TO THEIR RESPECTIVE SHAREHOLDING IN LA CONCORDE​

* ‍FOLLOWING LA CONCORDE UNBUNDLING, NIVEUS INTENDS TO UNBUNDLE ABOUT 22 PERCENT IN NEW COMPANY DISTRIBUTED TO AND RECEIVED BY NIVEUS​

* ‍ENVISAGED NEW COMPANY WILL BE LISTED ON JSE FOLLOWING IMPLEMENTATION OF LA CONCORDE UNBUNDLING, BUT BEFORE NIVEUS UNBUNDLING​

* ‍NIVEUS INVEST 17 PROPRIETARY LIMITED IS TO BE RENAMED “HOSKEN PASSENGER LOGISTICS AND RAIL LIMITED”​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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