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M-Cell - Results of the capitalisation share award

Release Date: 13/08/2001 17:46
Code(s): MCE
Wrap Text
M-CELL LIMITED
  (Incorporated in the Republic of South Africa)
  (Registration number 1994/009584/06)
  ("M-Cell" or "the Company")
Results of the capitalisation share award

In terms of the capitalisation share award, shareholders registered as such at 16:00 on Friday, 13 July 2001, ("the record date") will receive fully paid new ordinary shares in the Company for every M-Cell ordinary share held on the record date ("base share") in the same ratio that 7 cents multiplied by 1,06 bears to the weighted average traded price of M-Cell ordinary shares on the JSE Securities Exchange South Africa ("JSE") for the three trading days ending Wednesday, 8 August 2001. Shareholders were also entitled to elect to renounce their entitlement to such capitalisation shares in whole or in part in favour of Johnnies Strategic Investment Holdings Limited ("Johnsil") in consideration for which Johnsil and Johnnic Holdings Limited ("Johnnic") jointly and severally will pay 7 cents for every base share in respect of which such renunciation was made, provided that such election was made by no later than 12:00 on Friday, 10 August 2001.
Such elections were made in respect of a total of 328 376 521 new
ordinary shares (out of a possible total of 1 627 546 728 new ordinary shares) which have been taken up by Johnsil.
The weighted average price of M-Cell ordinary shares on the JSE for the three trading days ended on Wednesday, 8 August 2001, was R15,309713. As a result of the above, the number of issued ordinary shares of M-Cell has increased by 7 887 092, from 1 627 546 728 to 1 635 433 820 ordinary shares.
The listing of the new ordinary shares on the JSE will be effective from the commencement of business on or about Wednesday, 15 August 2001.
Share certificates in respect of the new ordinary shares and cheques in respect of such elections and/or fractional entitlements to the new ordinary shares, will be posted to shareholders entitled thereto, at their own risk on or about Wednesday, 15 August 2001. Johannesburg 13 August 2001 Sponsor Merrill Lynch South Africa (Pty) Ltd Registered Sponsor and
Member of the JSE Securities Exchange South Africa Registration number 1995/001805/07 Attorneys Webber Wentzel Bowens

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