Livingstone Investments Pty Ltd made a mandatory offer to acquire remaining 21.55% stake in Astoria Investments Ltd (MUSE:ATIL.N0000) for ZAR 63.6 million on October 30, 2019. In a related transaction, Livingstone Investments Pty Ltd acquired further 49.05% of Astoria Investments Ltd for approximately ZAR 140 million on October 30, 2019. Livingstone Investments will fund the transaction from available cash resources. After the completion of the tender offer, Livingstone Investments will be holding 100% stake of Astoria Investments. As of November 22, 2019, the South African Reserve Bank has approved the terms of the mandatory offer and details pertaining to the offer document has been distributed to Astoria shareholders and as per the document the offer is expected to be close by January 10, 2019 and cash settlement to be done by January 13, 2019. Questco Corporate Advisory Proprietary Limited acted as a financial adviser to RECM and Calibre. Transfer Secretaries (Proprietary) Limited and Harel Mallac Corporate Services Ltd. acted as transfer agents to Astoria Investments. Livingstone Investments Pty Ltd completed the acquisition of 21.55% stake in Astoria Investments Ltd (MUSE:ATIL.N0000) on January 10, 2020. Astoria shareholders accepted the offer in respect of 21.003 million shares, represent 17.08% stake in Astoria. Astoria shareholders who accepted the mandatory offer will have the offer consideration paid and Astoria shares transferred to RAC on Monday, January 13, 2020. As of January 21, 2020, Livingstone Investments Pty Ltd advised the shareholders of Astoria Investments Ltd who did not accept the mandatory offer are hereby notified in accordance with Rule 37 of the Takeover Rules, that the Offeror now intends to exercise its right under Part X of the Takeover Rules to acquire all shares held by such shareholders in Astoria. As of February 11, 2020, record date for the Compulsory Acquisition is set to February 21, 2020, with the results being published on February 24, 2020. As on February 25, 2020, it is announced that Livingstone Investments Pty Ltd completed the compulsory acquisition of Astoria Investments Ltd.