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Aeci - 10,9% Unsecured Debentures 1992/1999

Release Date: 14/09/1998 16:47:49      Code(s): AFE AFEPAED5
AECI LIMITED
(REGISTRATION NUMBER 04/02590/06)
("THE COMPANY")
10,9% UNSECURED DEBENTURES 1992/1999
("THE DEBENTURES") - SEVENTH REDEMPTION PAYMENT
NEDCOR INVESTMENT BANK IS AUTHORISED TO ANNOUNCE THAT THE SEVENTH REDEMPTION OF
THE DEBENTURES WILL TAKE PLACE ON FRIDAY, 4 DECEMBER 1998 TO DEBENTURE HOLDERS
REGISTERED AT CLOSE OF BUSINESS ON FRIDAY, 2 OCTOBER 1998.
EACH DEBENTURE HOLDER WILL HAVE ONE-HALF OF THE AMOUNT OF THE DEBENTURES HELD
BY HIM REDEEMED, ROUNDED DOWN TO THE NEAREST R100. ACCORDINGLY, APPROXIMATELY
R3 750 000 WILL BE REDEEMED OUT OF THE TOTAL CAPITAL AMOUNT OF R7 500 000
OUTSTANDING.
IN ADDITION, INTEREST WILL BE CALCULATED ON THE DEBENTURES TO BE REDEEMED ON A
DAILY BASIS FOR THE PERIOD 1 JULY 1998 TO 4 DECEMBER 1998 (BOTH DAYS
INCLUSIVE). SUCH INTEREST WILL AMOUNT TO 4,68849 CENTS PER DEBENTURE AND WILL
BE PAYABLE ON FRIDAY, 4 DECEMBER 1998.
DEBENTURE HOLDERS WILL BE INFORMED ON OR ABOUT TUESDAY, 6 OCTOBER 1998 OF THE
AMOUNT OF THEIR HOLDINGS TO BE REDEEMED AND THE PROCEDURES RELATING THERETO.
REGISTRATION DATE FOR REDEMPTION AND INTEREST ON THE DEBENTURES BEING REDEEMED
THE LAST DAY TO REGISTER FOR THE REDEMPTION AND THE INTEREST PAYMENT ON THE
DEBENTURES BEING REDEEMED WILL BE FRIDAY, 2 OCTOBER 1998. ACCORDINGLY, THE
REGISTER OF DEBENTURE HOLDERS WILL BE CLOSED FROM CLOSE OF BUSINESS ON FRIDAY,
2 OCTOBER 1998 TO CLOSE OF BUSINESS ON FRIDAY, 9 OCTOBER 1998 IN ORDER TO
DETERMINE THOSE DEBENTURE HOLDERS WHO WILL PARTICIPATE IN THE REDEMPTION AND
RECEIVE SUCH INTEREST PAYMENTS.
INTEREST PAYMENT ON DEBENTURES NOT BEING REDEEMED
INTEREST IN RESPECT OF THE SIX MONTHS ENDING 31 DECEMBER 1998 ON THE DEBENTURES
WHICH ARE NOT BEING REDEEMED WILL BE PAYABLE IN THE NORMAL MANNER.
STOCK EXCHANGE LISTING
IN ACCORDANCE WITH THE REQUIREMENTS OF THE JOHANNESBURG STOCK EXCHANGE, THE
COMPANY WILL APPLY FOR THE LISTING OF THE DEBENTURES TO BE REDEEMED TO BE
TERMINATED WITH EFFECT FROM CLOSE OF BUSINESS ON FRIDAY, 2 OCTOBER 1998.
15 SEPTEMBER 1998
INVESTMENT BANK
NEDCOR INVESTMENT BANK
SPONSORING BROKER
MERRILL LYNCH SMITH BORKUM HARE (PTY) LTD
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
REG. NO. 95/01805/07



                                        
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