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CSP - ChemSpec - Results of the Rights Offer
CHEMICAL SPECIALITIES LIMITED
Incorporated in the Republic of South Africa
Registration number 2005/039947/06
Share code: CSP
ISIN: ZAE000109427
("ChemSpec" or "the Company")
RESULTS OF THE RIGHTS OFFER
Shareholders are referred to the announcement released on the Securities
Exchange News Service ("SENS") of the JSE Limited ("JSE") on 7 October 2011 and
the circular to ChemSpec ordinary shareholders dated 31 October 2011 relating to
the ChemSpec rights offer, in terms of which a total of 535,630,824 ChemSpec
ordinary shares in the authorised but unissued share capital of ChemSpec were
offered for subscription to qualifying ChemSpec shareholders, by way of
renounceable rights offer, at a subscription price of 40 cents per ChemSpec
ordinary share, on the basis of one rights offer share for every one existing
ChemSpec ordinary share held at the close of trade on the record date of the
rights offer.
The rights offer closed on Friday, 18 November 2011 and the results thereof are
set out in the table below.
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Number of % of Value of shares
shares rights @ 40 cents per
offer rights offer
shares share
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Rights offer shares
available for subscription 535,630,824 100 R214,252,329.60
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Certificated number of rights
offer shares taken up 0 0 R 0.00
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Uncertificated number of
rights offer shares taken up 521,134,279 97.30 R208,453,711.60
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Total of rights offer shares
exercised 521,134,279 97.30 R208,453,711.60
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Number of rights available for
excess applications 14,496,545 2.70 R 5,798,618.00
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Excess rights offer shares
applied for 98,318,932 18.36 R 39,327,572.80
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Excess rights offer shares
allocated 14,496,545 2.70 R 5,798,618.00
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Total rights offer shares
allocated 535,630,824 100.00 R214,252,329.60
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The CSDP or broker accounts in respect of dematerialised shareholders will be
updated with rights offer shares and debited with any payments due on Monday, 21
November 2011.
CSDP or broker accounts in respect of dematerialised shareholders will be
updated with excess rights offer shares (where applicable) and debited with any
payments due on or about Wednesday, 23 November 2011.
Rights offer shares will be issued and posted to certificated shareholders in
certificated form on or about Wednesday, 23 November 2011.
Johannesburg
21 November 2011
Corporate and Designated Adviser
Grindrod Bank Limited
Date: 21/11/2011 17:14:00 Supplied by www.sharenet.co.za
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