Pentwater capital management significantly increases MultiChoice stake

MultiChoice Group Limited announced that Pentwater Capital Management LP, through UBS Group AG, has acquired an interest in the company's ordinary shares. This acquisition brings UBS's total interest in MultiChoice to 6.10% of the total ordinary shares in issue. The disclosure was made in accordance with section 122(3)(b) of South Africa's Companies Act and other relevant regulations.

The company's board of directors confirmed that the information provided in the announcement is true and complete, with no omissions that would affect its importance. MultiChoice has also filed the required notice with the Takeover Regulation Panel, as mandated by section 122(3)(a) of the Act.

MultiChoice’s memorandum of incorporation allows for the reduction of voting rights for shares presumptively owned by foreigners to South Africa, ensuring foreign voting power does not exceed 20%. This includes all shares in the MultiChoice ADS facility and shares held by shareholders with addresses outside South Africa, unless proof of non-foreign status is provided. Shareholders are advised to consult the company’s website for further details and to seek professional advice regarding these provisions and a recent ruling by the Takeover Regulation Panel on 27 February 2024.