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AET - Alert Steel Holdings Limited - Further details and update on the
timetable of the partially underwritten Alert renounceable rights offer
ALERT STEEL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/005144/06)
JSE code: AET ISIN: ZAE000092847
("Alert" or "the company")
FURTHER DETAILS AND UPDATE ON THE TIMETABLE OF THE PARTIALLY UNDERWRITTEN
ALERT RENOUNCEABLE RIGHTS OFFER
1. Introduction
Shareholders are referred to the announcement, dated 26 August 2011,
and the detailed timetable as set out below pertaining to the partially
underwritten rights offer of 1 515 151 515 new no par value ordinary
shares in Alert ("rights shares") at a subscription price of 3.3 cents
per rights share in the ratio of 591.79 rights shares for every 100
ordinary shares in Alert ("Alert shares") held at the close of trade on
Friday, 16 September 2011 ("rights offer") in order to raise up to R50
million. The rights shares, once issued, will rank pari passu in all
respects with the existing issued Alert shares.
2. Salient dates and times
The provisional salient dates and times pertaining to the rights offer
are as follows:
2011
Last day to trade in Alert shares in Friday, 9 September
order to qualify for participation in the
rights offer (cum entitlement)
Listing of letters of allocation on the Monday, 12 September
JSE at commencement of trading
Alert shares commence trading ex-rights Monday, 12 September
on the JSE at commencement of trading
Record date for participation in the Friday, 16 September
rights offer at the close of trade
Rights offer circular and form of Monday, 19 September
instruction posted to shareholders, where
applicable
Rights offer opens at commencement of Monday, 19 September
trading
Dematerialised shareholders` accounts at Monday, 19 September
their CSDP or broker automatically
credited with their entitlement
Certificated shareholders` entitlements Monday, 19 September
will be credited to an account held with
the transfer secretaries
Last day to trade in letters of Friday, 30 September
allocation on the JSE
Listing of rights offer shares subscribed Monday, 3 October
for at commencement of trading
Rights offer closes - payments to be made Friday, 7 October
and form of instruction in respect of
letters of allocation lodged by
certificated shareholders by 12h00
Record date for letters of allocation Friday, 7 October
Dematerialised shareholders` accounts Monday, 10 October
updated with entitlements and debited by
their CSDP or broker and certificates
posted to certificated shareholders on or
about (see note 5)
Results of rights offer announcement Monday, 10 October
published on SENS on or about
Dematerialised shareholders will have Wednesday, 12 October
their accounts at their CSDP or broker
updated with excess shares (if any) and
debited with the payment due on or about
Refund cheques, if applicable, and/or Wednesday, 12 October
share certificates posted to certificated
shareholders in respect of excess
applications on or about
Notes:
1. Dematerialised shareholders are required to notify their duly
appointed CSDP, banker 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 shareholders and
their CSDP, banker or broker.
2. All times indicated are South African times unless otherwise
stated.
3. Share certificates may not be dematerialised or rematerialised
between Monday, 12 September 2011 and Friday, 16 September 2011,
both days inclusive.
4. The CSDP or broker accounts of dematerialised shareholders will be
automatically credited with new Alert shares to the extent to
which they have accepted the rights offer. Alert 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.
5. CSDPs or brokers effect payment in respect of dematerialised
shareholders on a delivery versus payment method.
3. Letters of Allocation
The rights in relation to the rights shares are negotiable and can be
dealt in on the JSE. Alert has issued all rights in relation to the
rights 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 Alert shares.
4. Excess applications
Alert shareholders will be permitted to apply for rights shares in
excess of their entitlement. An announcement will be released on SENS
on or about Monday, 3 October 2011, stating the results of the rights
offer and the basis of allocation of any additional rights shares for
which application is made.
Once applications have been received for such excess securities, and
there are excess securities available for allocation, the pool of such
excess securities will be allocated pro-rata based on the number of
securities held by the applicant security holder/s just prior to such
allocation, including those taken up as a result of the rights offer.
5. 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.
6. Circular
A circular setting out the detailed terms of the rights offer will be
posted to shareholders on or about Monday, 19 September 2011.
Pretoria
29 August 2011
Designated Adviser
Vunani Corporate Finance
Date: 29/08/2011 14:00:01 Supplied by www.sharenet.co.za
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