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Notice of voluntary redmption - IDW002
Idwala Industrial Holdings (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2004/003462/07)
ISIN: ZAG000097049
(“Idwala” or “the Issuer”)
NOTICE OF VOLUNTARY REDEMPTION IN ACCORDANCE WITH CONDITION 10.5 OF
THE PERMITTED AMORTISING NOTES
The Issuer has delivered a voluntary redemption notice (Voluntary
Redemption Notice) to Noteholders in accordance with Condition 10.5
(Redemption from internally generated cashflow) of the Terms and
Conditions (as defined below) on 29 November 2013 in terms of which
the Issuer indicates its intention to voluntary redeem ZAR25,000,000
(Twenty Five Million Rand) Floating Rate Senior Secured Notes (Stock
Code IDW002) due 30 June 2016 (the Subject Amortising Notes) issued
by the Issuer on the terms and conditions (the Terms and Conditions)
of the Programme Memorandum prepared by the Issuer dated 22 June
2012, as completed and/or supplemented by the Applicable Pricing
Supplement dated 5 July 2012 in respect of ZAR515,000,000 Floating
Rate Senior Secured Notes due 30 June 2016 (the Permitted Amortising
Notes) on 9 July 2013.
Condition 10.5.1 provides that the Issuer shall be entitled to redeem
Permitted Amortising Notes at any time during the Term on giving not
less than 30 (thirty) nor more than 60 (sixty) days’ notice to the
Noteholders prior to such redemption.
The Issuer hereby notifies the Noteholders that the Subject
Amortising Notes will be redeemed on 31 December 2013 (“Redemption
Date”) as per the Voluntary Redemption Notice.
The Issuer hereby exercises its option, pursuant to Condition 10.5.2,
to require each of the holders of the Permitted Amortising Notes to,
simultaneously with the pro-rata redemption of the Subject Amortising
Notes, subscribe for a pro rata portion of ZAR25,000,000 (Twenty Five
Million Rand) of the Permitted Senior Secured Capex Notes on the
proposed Redemption Date.
This Notice is being delivered to Strate Limited and the JSE Limited
in accordance with Condition 18 (Notices) of the Terms and
Conditions.
29 November 2013
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 29/11/2013 02:44:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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