Rain Investor Arc Investments To Pursue Jse Delisting

According to a statement to investors on Tuesday, the company has made an offer to buy back the shares it doesn't own, pursuant to its delisting. Following that, ARCI will be redomiciled from Mauritius to South Africa.

"In the next financial year, the board of directors of ARCI will be assessing a delisting - while continuing to deploy strategies to narrow the discount to net asset value," the company said.

"The ARCI share price does not reflect the true value of the investment in the ARC Fund and trades at a discount to the net asset value of the ARC Fund, meaning that investors in ARCI are not receiving the true value of their investment. It is anticipated that the buyback will result in a return of value for investors."

Under the plan, ARCI shareholders will be offered R9.75/share in cash. According to ARCI, the offer price represents a premium of 12.6 to the R8.66/share price that the shares were trading at when the market closed on Friday, 14 March. The offer also represents a 21 premium on the R8.06/share 30-day volume-weighted average price.