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ILV - Illovo - Rights Offer Finalisation Announcement
Illovo Sugar Limited
(Incorporated in the Republic of South Africa)
Registration number 1906/000622/06
Share Code: ILV
ISIN: ZAE000083846
("Illovo")
RIGHTS OFFER FINALISATION ANNOUNCEMENT
1. Introduction
Shareholders are referred to the declaration announcement released on the
Securities Exchange News Service ("SENS") of the JSE Limited ("JSE") on 24 July
2009 relating to the renounceable rights offer of 108 342 362 Illovo
shares("the Rights Offer Shares") at a subscription price of 2 769 cents per
Illovo share on the basis of 30.83459 Rights Offer Shares for every 100 Illovo
shares held at the close of trade on the record date, being Friday, 21 August
2009 ("the Rights Offer").
2. Conditions precedent
All conditions precedent to the Rights Offer have now been fulfilled:
- approval has been obtained from the JSE for the rights offer circular and for
the listings of the letters of allocation and the Rights Offer Shares; and
- the necessary approvals and registrations have been obtained from the
Registrar of Companies at the Companies and Intellectual Property Registration
Office.
3. Salient dates and times
The salient dates and times in respect of the Rights Offer are set out below.
2009
Last day to trade in Illovo shares in order Friday, 14 August
to participate in the Rights Offer (cum
entitlement)
Illovo shares commence trading ex entitlement Monday, 17 August
on the JSE at 09:00 on
Listing of and trading in the letters of Monday, 17 August
allocation on the JSE commences at 09:00 on
Record date for the Rights Offer Friday, 21 August
Rights offer circular and form of Monday, 24 August
instruction, where applicable, posted to
shareholders
Rights Offer opens at 09:00 on Monday, 24 August
Last day for trading letters of allocation on Friday, 4 September
the JSE
Listing of Rights Offer Shares and trading Monday, 7 September
therein on the JSE commences
Rights Offer closes at 12:00 on Friday, 11 September
Record date for the letters of allocation Friday, 11 September
CSDP or broker accounts in respect of holders Monday, 14 September
of dematerialised shares are debited and
updated with Rights Offer Shares on or about
Share certificates are posted to certificated Monday, 14 September
shareholders by registered post on or about
Results of Rights Offer announced on SENS Monday, 14 September
Results of Rights Offer published in the Tuesday, 15 September
press
Notes:
(a) Share certificates in respect of Illovo shares may not be dematerialised or
re-materialised between Monday, 17 August 2009 and Friday, 21 August 2009, both
days inclusive.
(b) CSDPs effect payment on a delivery versus payment method in respect of
qualifying shareholders holding dematerialised shares.
(c) If you are a qualifying shareholder holding dematerialised shares you are
required to notify your duly appointed CSDP or broker of your acceptance of the
Rights Offer in the manner and time stipulated in the custody agreement
governing the relationship between yourself and your CSDP or broker.
Dematerialised shareholders are advised to contact their CSDP or broker as early
as possible to establish what the cut off times are for the acceptances of the
Rights Offer, as set out in the custody agreement, as this may be earlier than
the Rights Offer closing date.
(d) Unless otherwise indicated, all times are South African times.
Mount Edgecombe
6 August 2009
Investment Bank and transaction sponsor
Standard Bank
Legal adviser
Garlicke & Bousfield Inc.
Independent reporting accountants
Deloitte & Touche
Sponsor
J.P. Morgan Equities Limited
Underwriter
ABF Overseas Limited
Corporate adviser to the underwriter
N M Rothschild & Sons (South Africa) (Proprietary) Limited
Legal adviser to the underwriter
Bowman Gilfillan Inc.
This announcement is not for distribution in the United States of America
("U.S."), Australia, Canada, Japan or in any jurisdiction other than where it is
lawful to do so.
This announcement does not constitute or form part of any offer or solicitation
to purchase or subscribe for securities in the U.S. or in any jurisdiction in
which it is illegal to make such an offer. The rights offer described herein has
not been and will not be registered under the U.S. Securities Act of 1933, as
amended ("U.S. Securities Act"), or under any relevant securities laws of any
state or other jurisdiction of the U.S. The securities described herein (the
"Securities") may not be offered, sold, taken up, resold, renounced, exercised,
pledged, transferred or delivered, directly or indirectly, in or into the U.S.
at any time except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the U.S. Securities Act and
applicable state and other securities laws of the U.S. The Securities may be
offered, sold, taken up, resold, renounced, exercised, pledged, transferred or
delivered, by persons outside the U.S. in accordance with Regulation S under the
U.S. Securities Act.
Date: 06/08/2009 12:42:01 Supplied by www.sharenet.co.za
Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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