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SBL - Sable - Important Dates And Times In Respect Of The Claw-Back Offer
SABLE HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1968/010636/06)
("SABLE" OR "THE COMPANY")
SHARE CODE: SBL ISIN: ZAE000006383
IMPORTANT DATES AND TIMES IN RESPECT OF THE CLAW-BACK OFFER
INTRODUCTION
It was announced by Sable on SENS on 13 November 2008 that it had finalised
the terms of a subscription agreement with Isdale Holdings BV to raise
approximately R35 million by way of a claw-back offer. The claw-back offer
will result in the issuing of 1 797 400 new ordinary shares of R0.50 each to
Sable ordinary shareholders who accept the offer at a subscription price of
R19.47 per claw-back offer share and in the ratio of 22 claw-back offer shares
for every 100 Sable shares held.
Shareholders are referred to the following salient dates:
IMPORTANT DATES AND TIMES
2009
Declaration Date Friday, 20 March
Finalisation Date Thursday, 26 March
Last day to trade in Sable shares in order to Thursday, 2 April
settle by the record date and to qualify to
participate in the rights offer(cum entitlement) on
Listing of letters of allocation on the JSE Friday, 3 April
commences at commencement of trading on under the
name Sable NPL with share code SBLN and ISIN
ZAE000129425
Sable shares commence trading ex-rights on the JSE Friday, 3 April
at commencement of trading on
Record date for participation in the rights offer Thursday, 9 April
at the close of business on
Rights offer circular posted to shareholders on Tuesday, 14 April
Rights offer opens at commencement of trading on Tuesday, 14 April
Dematerialised shareholders will have their Tuesday, 14 April
accounts at their CSDP or stockbroker automatically
credited with their entitlement on
Certificated shareholders on the register will have Tuesday,14 April
their entitlement credited to an account at
Computershare Nominees (Proprietary) Limited on
The form of instruction in respect of a letter of Tuesday, 14 April
allocation will be posted to certificated
shareholders of Sable recorded in the register as
such on the record date on
Last day to trade in letters of allocation on the Thursday, 30 April
JSE on
Listing of rights offer shares commences at Monday, 4 May
commencement of trading on
Rights offer closes - payments to be made and form Friday, 8 May
of instruction in respect of letters of allocation
lodged by certificated shareholders by 12:00 (see
Note 1) on
Record date for letters of allocation on Friday, 8 May
Dematerialised shareholders` accounts will be Monday, 11 May
updated with entitlements and credited by their
CSDP or stockbroker and certificates posted to
certificated shareholders on
Results of rights offer released on SENS on Monday, 11 May
Results of rights offer published in the press on Tuesday, 12 May
Notes:
1. Dematerialised shareholders are required to notify their duly appointed
CSDP or stockbroker of their acceptance of the claw-back offer in the manner
and time stipulated in the agreement governing the relationship between the
shareholder and his/her CSDP or stockbroker.
2. All times indicated are South African times.
3. Share certificates may not be dematerialised or rematerialised between
Friday, 3 April 2009 and Thursday, 9 May 2009, both days inclusive.
4. Dematerialised shareholders will have their accounts at their CSDP or
stockbroker automatically credited with their Sable shares in respect of which
the claw-back offer has been accepted and certificated shareholders will have
their Sable share certificates in respect of which the claw-back offer has
been accepted posted to them at their own risk, by registered post.
5. CSDPs effect payment in respect of dematerialised shareholders on a
delivery versus payment method.
EXCESS APPLICATIONS AND SHARES NOT TAKEN UP
Due to the fact that the offer is being made by way of a claw-back offer,
Sable shareholders may not apply for rights shares in excess of those
allocated to them in terms of the claw-back offer.
Shares not taken up under the claw-back offer will be subscribed for and
issued to Isdale Holdings BV in terms of the claw-back.
CONDITIONS PRECEDENT
There are no outstanding conditions precedent for this transaction. The
circular will be posted to Sable shareholders on Tuesday 14 April 2009.
JURISDICTION
The rights offer is not being made, directly or indirectly, in or into or by
the use of mails of, or by any means or instrumentality (including, without
limitation, telephonically or electronically) of inter-state or foreign
commerce of, or any facility of a national securities exchange of, the United
States of America, Australia, Canada, Italy, Luxembourg or Japan.
Accordingly, copies of this circular, the form of instruction / letters of
allocation and any related documents are not being and must not be mailed or
otherwise distributed or sent in or into the United States of America,
Australia, Canada, Italy, Luxembourg or Japan, including to Sable shareholders
with registered addresses in the United States, Australia, Canada or Japan or
to persons whom Sable shareholders know to be custodians, nominees or trustees
holding Sable shares for persons in the United States of America, Australia,
Canada, Italy, Luxembourg, Japan or any other jurisdiction in which the rights
offer shares may not be offered. Letters of Allocation in the names of
shareholders with addresses in the above jurisdictions will be sold by the
transfer secretaries on the open market and the proceeds thereof, net of
costs, will be paid to the shareholders concerned, subject to Exchange Control
requirements.
Persons receiving such documents (including, without limitation, custodians,
nominees and trustees) shall not distribute or send them in, into or from the
United States of America, Australia, Canada, Italy, Luxembourg or Japan or use
such mails or such other means, instrumentality or facility in connection with
the rights offer and in doing so, will render invalid any related purported
acceptance of the rights offer.
In addition, the distribution of this circular and/or accompanying documents
and/or the transfer of the rights shares and/or the rights to subscribe for
rights shares in jurisdictions other than South Africa, excluding those
jurisdictions already referred to above, may be restricted by law and failure
to comply with any of those restrictions may constitute a violation of the
laws of any such jurisdiction. Neither this circular nor any form of
instruction / letter of allocation may be regarded as an offer in any
jurisdiction in which it is illegal to make such an offer. In those
circumstances, this circular and any form of instruction / letter of
allocation are sent for information purposes only.
Johannesburg
26 March 2009
Sasfin Capital
A division of Sasfin Bank Limited
Date: 26/03/2009 16:08:02 Supplied by www.sharenet.co.za
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