Share information
Total shares issued: 3,290,837
   
Number of shares traded in December 2017
   
Number of shares offered for sale: 500
Trading price per share of bids received,December 2017 R100.00

5 Year share history

The buying and selling of shares

NOTICE TO SUBTROPICO SHAREHOLDERS

Introduction

Until recently SUBTROPICO has operated an Over-the-Counter (“OTC”) share trading platform in terms of which the trading of SUBTROPICO shares, between willing sellers and willing purchasers, was facilitated via a monthly tender process according to a pre-determined set of share trading rules and procedures.

This process was hosted and overseen by our independent external auditors, MVB ("Subtropico Share Tender Process”).

With the introduction of the Financial Markets Act,No. 19 of 2012 ("Financial Markets Act"), the Financial Services Board ("FSB") has taken the view that share trading platforms, such as the Subtropico Share Tender Process (“SSTP”), could potentially fall within the definition of an exchange and has to be licensed as such in terms of the Financial Markets Act.

Alternatively exemption could be applied for while businesses models are changed in such a manner that share trading mechanisms are OTC compliant and therefore falls outside the scope of the Financial Markets Act.

The board and executive management of SUBTROPICO have considered the requirements for the licensing of the SSTP and have decided not to apply for an exchange license, due to the costs involved and the onerous administrative burden that will be placed on SUBTROPICO. Accordingly the SSTP is no longer in operation.

Despite the cessation of the SSTP, the Board still wishes to assist prospective sellers and purchasers of SUBTROPICO shares to sell and purchase SUBTROPICO shares in a manner that would not contravene the provisions of the Financial Markets Act.

Accordingly, the Board has decided to introduce a procedure in terms of which SUBTROPICO will put prospective purchasers and prospective sellers into contact with each other for them to reach agreement on the sale or purchase (including the purchase price) of their SUBTROPICO shares.

The following procedure to trade in Subtropico Limited shares will be effective from 1 August 2015:

  1. Prospective sellers complete and submit a “sale tender form*” to Subtropico. Subtropico load the number of shares and expected price per share onto our website under the “Trading of shares” section.
  2. Prospective buyers complete and submit a “purchase tender form*” to Subtropico. Subtropico load the number of shares and expected price per share onto our website under the “Trading of shares” section.
    (The number of shares and expected price per share purely indicates intent and is not contractually binding. Confidential information of buyers and sellers WILL NOT be loaded onto our website)
  3. Subtropico circulate the list of purchase bids and sales offers (name, number of shares, price per share and contact details) received from prospective buyers and sellers together with the last 3 months’ share trading information to the buyers and seller listed. Historical share trading information is also available on Subtropico’s website.
    (This can only happen if there is at least one prospective buyer and one prospective seller as a minimum, a scheduled timing is therefore not possible. The anonymous information contained in 1. and 2. above and the price at which shares last traded will also be communicated to other Subtropico shareholders from time to time via e-mail, sms or other forms of communication)
  4. The prospective buyer and seller engage in bilateral negotiation (telephonically, electronically or in person) to agree the transaction terms (amount of shares and the price per share).
  5. A Subtropico “transaction form*” is first completed and signed by the seller and then the buyer. The buyer pays the full purchase consideration (that includes eSTT tax OF 0.25% of the transaction value and has been confirmed by Subtropico) to Subtropico.
  6. Subtropico communicates the relevant documentation and authorisation requirements to both the buyer and seller to ensure compliance with FICA and the Companies Act 2008.
  7. Once Subtropico has received the requested documents and required authorisation, Subtropico register the transaction in the share register, pays the seller and send the share certificate to the buyer.
  8. *Forms are available on Subtropico’s website (www.subtropicolimited.co.za) or contact Burger Botha at 012 460 9910 or email burger@subtropico.co.za for all queries or further information required.
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