Canal+ offer for MultiChoice becomes unconditional

MultiChoice Group Limited announced today that the mandatory offer by Groupe Canal+ to acquire all issued ordinary shares not already owned by Canal+ has become unconditional. As of September 19, 2025, all suspensive conditions to the Canal+ offer, detailed in the combined circular dated June 4, 2024, have been fulfilled or waived. The offer is for ZAR125.00 per MultiChoice share, payable in cash.

Canal+ now directly owns 200,030,591 (46.0%) of MultiChoice shares, excluding treasury shares. Additionally, acceptances for a further 9,767,641 (2.2%) of MultiChoice shares have been tendered to Canal+ prior to this finalisation announcement. The settlement process for the offer is expected to commence imminently, pending a compliance certificate from the Takeover Regulation Panel.

The finalisation date for the offer is Monday, September 22, 2025. The first payment to offerees who accepted by this date is scheduled for Wednesday, October 1, 2025. The offer officially closes at 12:00 on Friday, October 10, 2025, with results to be announced on SENS and ANS on Monday, October 13, 2025.