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ADW - African Dawn Capital Limited - Results of General Meeting/
Finalisation announcement in respect of the rights offer by Afdawn
AFRICAN DAWN CAPITAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/020520/06)
JSE code: ADW
ISIN: ZAE000060703
("Afdawn" or "the company")
-RESULTS OF GENERAL MEETING
-FINALISATION ANNOUNCEMENT IN RESPECT OF THE RIGHTS OFFER BY AFDAWN
Afdawn shareholders ("shareholders") are referred to the circular dated
19 August 2011("the circular") detailing:
- a partially underwritten, renounceable rights offer of 250 000
000 ordinary Afdawn shares("shares") to Afdawn shareholders in
a ratio of 112.145 Rights Offer Shares for every 100 Afdawn
shares ("the rights offer") held at the close of business on
the Record Date for the rights offer, at a subscription price
of 10 cents per Afdawn share;
- a general authority to issue shares for cash in terms of the
Listings Requirements of the JSE Limited;
- specific authority to issue shares for cash to Sandown Capital
Proprietary Limited ("Sandown Capital"), PCI Fintrade
Proprietary Limited ("PCI") and Imperial Crown 377 Proprietary
Limited;
- a R10 million convertible bond to be issued by Elite Group
Proprietary Limited to Sandown Capital; and
- a R1,7 million convertible bond to be issued by Afdawn to PCI,
a related party.
At a general meeting of Afdawn shareholders held today, 21 September 2011
all the ordinary resolutions relating to the aforementioned, other than
ordinary resolution 6, were passed by the requisite majority of
shareholders present and voting, in person or by proxy.
Ordinary resolution 6 relating to a general authority to issue shares for
cash, and sell treasury shares, for cash was withdrawn by the board of
directors prior to the general meeting.
Shareholders are therefore advised that all conditions precedent to the
rights offer have been fulfilled, therefore the rights offer will proceed
as per the timetable given below and in the circular dated 19 August
2011.
The printed Form of Instruction will be posted to certificated
shareholders on Monday, 10 October 2011.
FINALISATION ANNOUCEMENT IN RESPECT OF THE RIGHTS OFFER BY AFDAWN
Shareholders are referred to the announcements released on SENS on 14
June 2011, 5 August 2011, 19 August 2011 and the circular dated 19 August
2011 regarding, inter alia, the rights offer. The shares issued in terms
of the rights offer, will rank pari passu in all respects with the
existing issued Afdawn shares.
IMPORTANT DATES AND TIMES
Important dates and times relating to the rights offer are set out below:
Rights offer finalisation announcement published on Wednesday, 21 September
SENS
Last day to trade in Afdawn shares in order to Friday, 30 September
participate in the rights offer (cum entitlement) by
17:00 on
Afdawn Shares commence trading ex-entitlement at Monday, 3 October
09:00 on
Listing of and trading in the Letters of Allocation Monday, 3 October
on the JSE under the JSE code ADWN and ISIN:
ZAE000159182 commences at 09:00 on
Record Date for purposes of determining shareholders Friday, 7 October
entitled to participate in the rights offer at the
close of business
Rights offer opens at 09:00 on Monday, 10 October
Letters of Allocation credited to an electronic Monday, 10 October
account held at the transfer secretaries in respect
of holders of certificated Afdawn shares
CSDP or broker accounts credited with entitlements in Monday, 10 October
respect of holders of dematerialised Afdawn shares
Last day for trading Letters of Allocation on the JSE Friday, 21 October
Maximum Listing of rights offer shares and trading Monday, 24 October
therein on the JSE commences at 09:00 on
Rights offer closes at 12:00 on Friday, 28 October
Record date for letters of allocation (final record Friday, 28 October
date) on
Payment to be made and Form of Instruction to be Friday, 28 October
lodged with the transfer secretaries by holders of
certificated Afdawn shares by 12:00 noon
Rights offer Shares issued on or about Monday, 31 October
CSDP or broker accounts in respect of holders of Monday, 31 October
Dematerialised Shares debited with the payment due
and updated with rights offer Shares and share
certificates posted to Certificated Shareholders by
registered post on or about
Results of the rights offer announced on SENS Monday, 31 October
Payment in terms of the allocation notice to be Wednesday, 2 November
received by the underwriters
Rights offer shares not subscribed for allotted and Wednesday, 2 November
issued to the underwriters on or about
Share certificates may not be dematerialised or rematerialised between
Monday, 3 October 2011 and Friday, 7 October 2011, both days inclusive.
Johannesburg
21 September 2011
Designated and Corporate Advisor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 21/09/2011 10:57:56 Supplied by www.sharenet.co.za
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