Tham Investments Proprietary Limited, Tham Investments Proprietary Limited, key management of Alviva and others consortium of investors made a Non binding expression of interest to acquire remaining 81.4% stake in Alviva Holdings Limited (JSE:AVV) for approximately ZAR 2.3 billion on June 30, 2022. Under the terms of transaction, cash offer was made by the Consortium to acquire all the ordinary shares of Alviva that is not owned by the Consortium or participating management for a purchase consideration of ZAR 25.00 per Alviva share. The Offer is to be made by way of a scheme of arrangement. As of December 8, 2022, Tham Investments Proprietary Limited, Tham Investments Proprietary Limited, key management of Alviva and others consortium of investors entered into a implementation agreement to acquire remaining 76.087508% stake in Alviva Holdings Limited (JSE:AVV) from the group of shareholders for ZAR 2.5 billion. Under the terms of transaction, The revised offer is adjusted to ZAR 28 per Alviva share.

Tham and DY are two major shareholders and empowerment partners of Alviva that currently own c. 18.6% of the issued share capital of the Company. The Consortium has received an offer of funding from Absa Bank which is subject to a firm intention offer which is still subject to the fulfilment of various conditions. The Consortium has also invited key management of Alviva to participate in the Proposed Transaction as part of the Consortium. Transaction involves delisting of Alviva shares from the Johannesburg Stock Exchange.

The Consortium requires conditions precedent that are usual and standard for submission of a firm intention of this nature being fulfilled to the Consortium's sole satisfaction, including the conclusion of all transaction and funding agreements, receipt of material lender, supplier and / or customer consents, obtaining the requisite support from key management of the Company and concluding employment contracts with key management on terms which are satisfactory to the Consortium. The implementation of the Scheme will be subject to conditions customary of a transaction of this nature Alviva appointing an independent board and independent expert to opinon the offer, posting of a circular detailing the terms of the Proposed Transaction to shareholders; obtaining the required Alviva shareholder approval; and obtaining all required regulatory approvals.

TWB- Tugendhaft Wapnick Banchetti and Partners acted as legal advisor to Alviva and Absa Corporate and Investment Banking, a division of Absa Bank Limited and Webber Wentzel acted as financial and legal advisor to Consortium

Tham Investments Proprietary Limited, Tham Investments Proprietary Limited, key management of Alviva and others consortium of investors completed the acquisition of remaining 81.4% stake in Alviva Holdings Limited (JSE:AVV) on February 28, 2023.