Astoria shareholders back delisting and offer conditions met

Shareholders of Astoria Investments Limited have overwhelmingly approved all resolutions at the General Meeting held on December 17, 2025. Ordinary Resolution Number 1, pertaining to the authority to delist from the JSE and SEM, and Ordinary Resolution Number 2, granting general authority, both passed with 81.09% of votes in favor. Special Resolution Number 1, which granted specific authority for the company to repurchase Offer Shares from Offer Participants, also received 81.09% of votes in favor.

Following the General Meeting, all Offer Conditions have been fulfilled, including the Maximum Acceptances Condition. The company received irrevocable undertakings from 60.1% of shareholders to reject the Offer, indicating strong support for the proposed transaction. Shareholders wishing to accept the Offer of R8.15 per Astoria Share must notify their brokers by 12:00 (SA time) on Friday, January 2, 2026.

The proceeds from the Offer will comprise a 60.82% capital repayment (ZAR 495.65990) and a 39.18% dividend payment (ZAR 319.34010), subject to 20% dividend withholding tax. Additionally, the unbundling of GRSP (12 GRSP for every 100 Astoria Shares) will proceed, with the record date for the unbundling set for Friday, January 2, 2026, and Goldrush Shares credited to accounts on Monday, January 5, 2026.