Late last week, Naspers, one of the largest technology investors in the world, confirmed delays in the proposed listing of its new global consumer internet group – NewCo.
According to IOL News, the NewCo was supposed to be listed on the Euronext Amsterdam Stock Exchange, but due to an error in copies of an information circular document delivered to shareholders, with them being incorrectly labelled, the listing was delayed.
“The service provider concerned has advised Naspers that the error occurred in pairing the names and addresses of some shareholders for purposes of printing labels on the envelope in which the physical copies of the circular were delivered to certain shareholders, meaning some circulars were sent to the correct addresses of the affected shareholders, but the incorrect names appeared on these envelopes, the names and addresses did not match,” explained the company.
Furthermore IOL News says that Naspers had cancelled an extraordinary general meeting (EGM) which was scheduled for next Friday to allow all shareholders an equal opportunity to fully consider the circular and resolution.
“The Naspers board remains fully supportive of the proposed transaction and the potential benefits that could be realised by forming and listing a new, global consumer internet group on Euronext Amsterdam, with a secondary inward listing on the JSE,” concluded the firm.
[Source – IOL News]
