Horizon has been advised that Panoramic has sold 20,237,037 Horizon shares to
The sale price of
Panoramic's residual shareholding following the sale transaction is 18,793,580 shares, which represents approximately 24.6% of Horizon's share capital.
Zeta's direct shareholding increases to 35,643,387 shares, which represents approximately 46.57% of Horizon's share capital. Zeta's relevant interest of 71.13% in Horizon's share capital has not changed as a result of the transaction.
The Management Agreement between Panoramic and Horizon will remain in place in the near term while longer term arrangements with respect to Horizon executive leadership and support functions are established.
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