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Results of the Rights Offer
ECSPONENT LIMITED
(Previously John Daniel Holdings Limited)
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
("Ecsponent" or "the Company")
RESULTS OF THE RIGHTS OFFER
The board of directors of the Company is pleased to announce that the rights offer as
detailed in the circular to shareholders on 2 September 2014, ("Rights Offer") has been
successfully subscribed for in the amount of R63 623 892 by existing shareholders, their
renouncees and the underwriter. The Rights Offer closed on 19 September 2014.
Ecsponent shareholders, or their renounces, applied for a total of 454 456 371 Rights Offer
shares, including excess applications as follows:
- Ecsponent Capital (RF) Limited ("ECL"), the underwriter, agreed to underwrite up to
R45 000 000, resulting in ECL being issued 321 428 571 ordinary shares
- Shareholders following their rights resulted in an issue of 132 704 627 ordinary shares,
and
- Shareholders subscribing for excess applications resulted in an issue of 323 173
additional ordinary shares.
ECL now holds 66.1% of the issued share capital of Ecsponent.
ECL furthermore agreed to provide a funding facility to Ecsponent up to R100 million less the
proceeds of the rights offer convertible into ordinary shares in the Company at the Rights
Offer price (“the Convertible Loan”). The Convertible Loan facility of R36 376 108 has been
established.
As advised in the Rights Offer Circular, certain directors have followed their rights in terms of
the Rights Offer. The JSE has given permission to directors to exercise their rights due to
the Rights Offer being conducted during a closed period.
Details of ordinary shares issued to directors as a result of the exercise of their rights under
the Rights Offer are set out below:
Terence Gregory (Chief Executive Officer)
Shareholding prior to the Rights Offer 16 380 943 shares
Rights Offer shares issued 5 619 057 shares
Price per share 14 cents
Value of Rights Offer shares R786 668
Type and extent of interest (direct or indirect beneficial) Direct beneficial interest (0.62%)
Shareholding post the Rights Offer 22 000 000 shares
Dirk van der Merwe (Chief Financial Officer)
Shareholding prior to the Rights Offer 10 224 158 shares
Rights Offer shares issued 4 275 842 shares
Price per share 14 cents
Value of Rights Offer shares R598 618
Type and extent of interest (direct or indirect beneficial) Direct beneficial interest (0.475%)
Shareholding post the Rights Offer 14 500 000 shares
Keith Rayner (Non-executive Director)
Shareholding prior to the Rights Offer 2 000 000 shares
Rights Offer shares issued 714 285 shares
Price per share 14 cents
Value of Rights Offer shares R100 000
Type and extent of interest (direct or indirect beneficial) Direct beneficial interest (0.07%)
Shareholding post the Rights Offer 2 714 285 shares
Richard Connellan (Non-executive Director)
Shareholding prior to the Rights Offer 1 142 857 shares
Rights Offer shares issued 717 143 shares
Price per share 14 cents
Value of Rights Offer shares R100 400
Type and extent of interest (direct or indirect beneficial) Direct beneficial interest (0.08%)
Shareholding post the Rights Offer 1 860 000 shares
Details of the rights exercised by associates of directors are as follows:
Brandon Topham (Non-executive Director)
Name of associate Brat Trust
Relationship to associate Trustee and beneficiary of trust
Shareholding prior to the Rights Offer 1 142 857 shares
Rights Offer shares issued 714 285 shares
Price per share 14 cents
Value of Rights Offer shares R100 000
Type and extent of interest (direct or indirect beneficial) Indirect beneficial interest (0.07%)
Shareholding post the Rights Offer 1 857 142 shares
CSDP or Broker accounts in respect of holders of dematerialised shares will be debited and
updated with excess share allocations, if any, and share certificates or refund cheques, if
applicable, will be posted to certificated shareholders by registered post on or about
Thursday, 25 September 2014.
22 September 2014
Transaction sponsor
Arcay Moela Sponsors Proprietary Limited
Date: 23/09/2014 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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