Author Topic: SAB  (Read 43155 times)

Moonraker

  • Hero Member
  • *****
  • Posts: 1095
  • Karma: +31/-0
    • View Profile
Re: SAB
« Reply #45 on: October 13, 2015, 03:49:25 pm »
For 41% of stock AB InBev is offering a partial-share alternative, essentially a combination of cash and stock translating into a lower per-share price of £ 39.03. The alternative was devised for SABMiller's two largest shareholders, Altria Group Inc. and the Santo Domingo family's investment vehicle BevCo, and helps them with taxation and potential accounting issues.

The latest proposal also includes a provision for SABMiller shareholders to get dividend payments, something the prior proposals didn't. SABMiller's shareholders are entitled to get up to 28 cents a share in dividends paid by the London- based brewer for the six months to Sept. 30 and a further 94 cents a share for the six month period ended March 31 next year before a possible deal is completed. That amounts to $1.22 a share and increases the amount SABMiller's shareholders get by about £ 1.3 billion.

Patrick

  • Administrator
  • Hero Member
  • *****
  • Posts: 2551
  • Karma: +47/-2
    • View Profile
Re: SAB
« Reply #46 on: October 14, 2015, 11:34:53 am »
Looks like the market is fairly convinced this will go through. Also heard Bruce Whitfield interviewing someone last night saying that apart from USA and China, there's pretty much no overlap in their markets, so the competition commission won't be a huge hurdle.

Broke(r)

  • I've just arrived
  • *
  • Posts: 25
  • Karma: +1/-0
    • View Profile
Re: SAB
« Reply #47 on: October 14, 2015, 12:55:29 pm »
From what I heard (apparently) there's about another R 100 of upside in the share, with some risk of shareholders getting nervous and bailing early... Like I did.

Broke(r)

  • I've just arrived
  • *
  • Posts: 25
  • Karma: +1/-0
    • View Profile
Re: SAB
« Reply #48 on: October 15, 2015, 05:50:36 pm »
I'm wondering:

If SAB on its JSE listing has already (or will soon) reach its ceiling on the anticipated deal...
and the 'mega-bru' transaction could take ages to complete...
therefore the ultimate de-listing of SAB could take ages to be finalised.
then:
with its current market cap and zero to little growth prospects in the light of the recent events already priced-in, SAB will potentially lock-out a large percentage of many indexes with dead weight (think STX40, STXIND), causing some sideways action which the rest of the counters will have to try and somehow outperform...

So buying into one of these indexes today, might have some very unsatisfactory performance due to the sheer amount of potential non-performing SAB...

Or am I completely wrong?


Moonraker

  • Hero Member
  • *****
  • Posts: 1095
  • Karma: +31/-0
    • View Profile
Re: SAB
« Reply #49 on: November 04, 2015, 10:42:42 am »
Deadline for final offer now extended to 5pm on November 11th.

Moonraker

  • Hero Member
  • *****
  • Posts: 1095
  • Karma: +31/-0
    • View Profile
Re: SAB
« Reply #50 on: January 09, 2016, 04:05:23 pm »

5.2      The JSE has granted AB InBev a secondary listing by way of introduction, in terms of
          the fast-track listing process, of all its issued Ordinary Shares on the Main Board of the
          exchange operated by the JSE in the "Consumer – Food & Beverages – Beverages -
          Brewers" sector, under the abbreviated name "AB InBev", share code "ANB" and
          ISIN BE0003793107 with effect from the commencement of trade on the Listing Date.

14.    SALIENT DATES RELATING TO THE LISTING

       The salient dates relating to the Listing are set out below:

       Release of the Pre-listing Announcement via the Stock          8 January 2016
       Exchange News Service of the JSE ("SENS")
       Publication of the Pre-listing Announcement in the South       12 January 2016
       African press
       Anticipated Listing Date and commencement of trade on          9:00 on 15 January 2016
       the Main Board of the exchange operated by the JSE


       Note: The above times are South African standard time. The above times and dates are
       subject to change. Any such change will be notified via SENS.

15.3       South African resident shareholders that dispose of their Ordinary Shares listed on the
           exchange operated by the JSE will be subject to either income tax (in the case of share
           dealers) or capital gains tax (in the case of capital investors). The merger of AB InBev
           into Newco in line with the terms of the Transaction will constitute a disposal for South
           African resident shareholders in terms of South African tax law, and therefore would
           trigger the payment of the aforementioned taxes by South African resident shareholders
           on completion of the merger, subject to any specific exemptions that may otherwise
           apply to such shareholders.