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ESR - Esorfranki Limited - Finalisation information relating to the rights offer
ESORFRANKI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1994/000732/06)
JSE code: ESR
ISIN: ZAE000133369
JSE code for LAs: ESRN
ISIN for LAs: ZAE000153318
("Esorfranki" or "the company")
FINALISATION INFORMATION RELATING TO THE RIGHTS OFFER
Introduction
Shareholders are referred to the announcement, dated 9 December 2010, and are
advised that the relevant rights offer documentation has now been registered by
CIPRO and that Esorfranki will accordingly proceed with a fully underwritten
renounceable rights offer of 93 023 256 new ordinary shares ("rights shares") to
its ordinary shareholders at a subscription price of R2.15 per rights share in
the ratio of 30.786 rights shares for every 100 ordinary shares held on Friday,
11 February 2011 ("rights offer") in order to raise R200 million. The rights
shares, once issued, will rank pari passu in all respects with the existing
issued Esorfranki shares.
Salient dates and times
The salient dates and times pertaining to the rights offer are as follows:
2011
Last day to trade in Esorfranki shares in
order to qualify to participate in the Friday, 4 February
rights offer (cum entitlement)
Listing of letters of allocation on the JSE
under the JSE code ESRN and ISIN ZAE Monday, 7 February
000153318 at commencement of trading on
Esorfranki shares commence trading ex-rights
on the JSE at commencement of trading on Monday, 7 February
Record date for participation in the rights Friday, 11 February
offer at the close of trade on
Rights offer circular and form of Monday, 14 February
instruction posted to shareholders, where
applicable
Rights offer opens at commencement of Monday, 14 February
trading on
Dematerialised shareholders` accounts at
their CSDP or broker automatically credited Monday, 14 February
with their entitlement
Certificated shareholders` entitlements will
be credited to an account held with the Monday, 14 February
transfer secretaries
Last day to trade in letters of allocation Friday, 25 February
on the JSE on
Listing of Esorfranki rights offer shares at Monday, 28 February
commencement of trading on
Rights offer closes - payments to be made
and form of instruction in respect of Friday, 4 March
letters of allocation lodged by certificated
shareholders by 12:00 on (see notes 1 and 5
for dematerialised shareholders)
Record date for letters of allocation Friday, 4 March
Dematerialised shareholders` accounts
updated with rights shares to the extent
accepted and debited with the relevant costs
by their CSDP or broker and new Esorfranki
share certificates posted to certificated
shareholders (see note 5) Monday, 7 March
Results of rights offer announcement
released on SENS on or about Monday, 7 March
Results of rights offer announcement
published in the press on or about Tuesday, 8 March
Share certificates posted to certificated
shareholders on or about Wednesday, 9 March
Notes:
Dematerialised shareholders are required to notify their duly appointed CSDP or
broker of their acceptance or otherwise of the rights offer in the manner and
time stipulated in the agreement governing the relationship between such
shareholder and their CSDP or broker.
All times indicated are South African times unless otherwise stated.
Share certificates may not be dematerialised or rematerialised between Monday, 7
February 2011 and Friday, 11 February 2011, both days inclusive.
The CSDP / broker accounts of dematerialised shareholders will be automatically
credited with Esorfranki rights offer shares to the extent to which they have
accepted the rights offer. Esorfranki share certificates will be posted, by
registered post at the shareholders` risk, to certificated shareholders in
respect of the rights offer shares which have been accepted.
CSDPs or brokers effect payment in respect of dematerialised shareholders on a
delivery versus payment method.
Letters of Allocation
The rights to new Esorfranki shares are negotiable and can be dealt in on the
JSE. Esorfranki has issued all rights to new Esorfranki shares in
dematerialised form. The electronic record for certificated shareholders is
being maintained by Computershare Investor Services (Pty) Limited, making it
possible for certificated shareholders to enjoy the same rights and
opportunities as those shareholders holding dematerialised Esorfranki shares.
Excess applications
Esorfranki shareholders will not be permitted to apply for rights shares in
excess of their entitlement.
Foreign shareholders
Foreign shareholders may be affected by the rights offer, having regard to
prevailing laws in their respective jurisdictions. Such foreign shareholders
should inform themselves about and observe any applicable legal requirements of
such jurisdiction in relation to the rights offer. Shareholders in such
jurisdictions are responsible for providing any evidence required that they are
permitted to take up their rights. If such evidence is not provided, then the
entitlement to rights shares will be deemed to have been declined.
Circular
A circular setting out the detailed terms of the rights offer will be posted to
shareholders on Monday, 14 February 2011.
Sandton
28 January 2011
Corporate Adviser and Sponsor
Vunani Corporate Finance
Independent reporting accountants
KPMG Inc
Legal Adviser
Thomson Wilks Inc
Date: 28/01/2011 12:40:21 Supplied by www.sharenet.co.za
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