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PSG/PSL - RESULTS OF THE RIGHTS OFFER BY PSL

Release Date: 19/11/1998 17:28
Code(s): PSG PSL PSLN
Wrap Text
PSG GROUP LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 70/08484/06)
("PSG")
PSG FINANCIAL SERVICES LIMITED
(FORMERLY SERVGRO INTERNATIONAL LIMITED)
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 03/00478/06)
("PSL")
RESULTS OF THE RIGHTS OFFER BY PSL
1. THE RIGHTS OFFER

PSL EXTENDED A RENOUNCEABLE RIGHTS OFFER TO PSL SHAREHOLDERS OF 246 094 373 PSL SHARES OF 8 CENTS EACH AT 200 CENTS PER SHARE IN THE RATIO OF 75 NEW PSL SHARES FOR EVERY 100 PSL SHARES HELD ON 16 OCTOBER 1998. 2. RESULTS OF THE RIGHTS OFFER
AT THE CLOSE OF THE RIGHTS OFFER, PSL SHAREHOLDERS OR THEIR RENOUNCEES HAD ACCEPTED THE RIGHTS OFFER IN RESPECT OF 245 275 264 PSL SHARES, CONSTITUTING 99,7% OF THE RIGHTS OFFER SHARES.
NEW PSL SHARE CERTIFICATES WILL BE POSTED TO ALL PSL SHAREHOLDERS OR THEIR RENOUNCEES WHO ACCEPTED THE RIGHTS OFFER TODAY.
PSL HAS ACCORDINGLY RAISED APPROXIMATELY R490 MILLION BEFORE EXPENSES IN TERMS OF THE RIGHTS OFFER. 3. LISTING OF NEW PSL SHARES
THE NEW PSL SHARES ISSUED IN TERMS OF THE RIGHTS OFFER WILL BE LISTED IN THE FINANCIAL - "BANKS AND FINANCIAL SERVICES" SECTOR OF THE JOHANNESBURG STOCK EXCHANGE LIST WITH EFFECT FROM THE COMMENCEMENT OF BUSINESS TOMORROW. JOHANNESBURG 19 NOVEMBER 1998 INVESTMENT BANK NEDCOR INVESTMENT BANK CORPORATE ADVISOR PSG INVESTMENT BANK LIMITED CORPORATE FINANCE ATTORNEYS
HOFMEYR HERBSTEIN GIHWALA, CLUVER & WALKER INC. ATTORNEYS AUDITORS PRICEWATERHOUSECOOPERS CHARTERED ACCOUNTANTS (SA) REGISTERED ACCOUNTANTS AND AUDITORS JOINT SPONSORING BROKERS - IN SOUTH AFRICA PSG SECURITIES LIMITED (REGISTRATION NUMBER 96/00509/06) (MEMBER OF THE JOHANNESBURG STOCK EXCHANGE) WARBURG DILLON READ
WARBURG DILLON READ SECURITIES (SOUTH AFRICA) (PTY) LTD (REGISTRATION NUMBER 95/11140/07) A SUBSIDIARY OF UBS AG (MEMBER OF THE JOHANNESBURG STOCK EXCHANGE) - IN NAMIBIA BRIAN VAN RENSBURG (MEMBER OF THE NAMIBIAN STOCK EXCHANGE)

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