Remgro finalizes eMedia Holdings share distribution

Remgro will distribute its entire 35.000477% stake, comprising 238,472,945 eMedia Holdings (EMH) N ordinary shares, to Remgro shareholders as an unbundling transaction. This distribution aims to unlock greater value for Remgro shareholders, who will receive 41.96 unbundling shares for every 100 Remgro ordinary or class B ordinary shares held. The transaction is anticipated to improve the liquidity of EMH N shares and potentially deliver improved share price outcomes due to the increased free float.

The unbundling, which constitutes a disposal by Remgro, will be implemented in terms of section 46 of the Income Tax Act, No 58 of 1962, providing dividends tax and STT relief, as well as roll-over relief from income tax. Fractional entitlements will be rounded down, and aggregated excess fractions will be sold, with cash proceeds paid to shareholders at a 10% discount to the volume weighted average trading price of EMH N shares on the JSE on the "ex" entitlement trading day, anticipated to be 23 September 2025.

Key dates include the last day to trade in Remgro ordinary shares to participate in the unbundling on Monday, 22 September 2025, with Remgro ordinary shares trading "ex" entitlement on Tuesday, 23 September 2025. The record date for receiving unbundling shares is Friday, 26 September 2025, and Remgro will unbundle the shares to shareholders on Monday, 29 September 2025.