Mauritius Court gives green light to listing of Miwa Sugar shares

Alteo Limited has announced that the Supreme Court of Mauritius has sanctioned the Scheme of Arrangement as set out in the Information Memorandum dated 15 July 2022.

The Court Order has been filed with the Registrar of Companies on 20 October 2022.

Hence, the 318,492,120 ordinary shares (Miwa Sugar Shares) of Miwa Sugar Limited (Miwa Sugar) will be listed by way of an introduction on the Development & Enterprise Market of the Stock Exchange of Mauritius Ltd.

As part of the Scheme, Alteo has approved the declaration of a special dividend of Rs0.30 per share to all shareholders of Alteo registered at close of business on 14 November 2022.

The shareholders of Alteo will be given the option to receive, in lieu of cash, one Class A share of Miwa Sugar for every ordinary share held in Alteo.

On the first day of trading of the shares of Miwa Sugar, a minimum of 1,000 shares will be made available for trading at a price of USD0.46 per Miwa Sugar Share.

Source: Stock Exchange of Mauritius