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AET - Alert Steel Holdings Limited - Finalisation information relating to the
partially underwritten 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")
FINALISATION INFORMATION RELATING TO THE PARTIALLY UNDERWRITTEN RENOUNCEABLE
RIGHTS OFFER
1 Introduction
Shareholders are referred to the announcement, dated 29 August 2011, and
are advised that all conditions precedent have been fulfilled and that
Alert will accordingly proceed with the partially underwritten
renounceable 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 held at the close of trade on Friday, 16
September 2011 ("rights offer") in order to raise R50 million. The
rights shares, once issued, will rank pari passu in all respects with
the existing Alert shares in issue.
2 Salient dates and times
The 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 on the JSE
Dematerialised shareholders` accounts Monday, 19 September
at 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 Monday, 3 October
subscribed for at commencement of
trading on the JSE
Rights offer closes - payments to be Friday, 7 October
made 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 accounts at Wednesday, 12 October
their CSDP or broker updated with
excess shares (if any) and debited with
the amount 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 shares which
have been accepted.
5 CSDPs or brokers effect payment in respect of dematerialised
shareholders on a delivery versus payment method.
3 Circular
A circular setting out detailed information relating to the rights offer
will be posted to shareholders on Monday, 19 September 2011.
Pretoria
2 September 2011
Designated Adviser
Vunani Corporate Finance
Date: 02/09/2011 11:18:02 Supplied by www.sharenet.co.za
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