Dec 19 (Reuters) - Petmin Ltd PETJ.J :
* Firm intention announcement proposed delisting and withdrawal of cautionary
* Entered into an implementation agreement with Capitalworks for Bidco to make two separate but concurrent offers to acquire all or a portion of shares in Petmin
* Offer, if implemented, will be settled either in cash at a price of R1.55 per share or issue of linked share of 1 ordinary share and 1 preference share priced at R1.60 per share
* With offer, delisting of Petmin shares from main board of securities exchange operated by JSE Ltd will be proposed to shareholders
* As of date of this announcement, irrevocable undertakings in support of offer representing 34.07 pct of offer shares, have been obtained
* It is Bidco's intention that, after implementation of offer, Bidco will propose that company make a R150 million distribution to its shareholders Source text for Eikon: ID:nJseS0004a Further company coverage: PETJ.J
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