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VUN - Vunani Limited - Proposed conversion and consolidation of the share capital VUNANI LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/020641/06) JSE code: VUN ISIN: ZAE000110359 ("Vunani" or "the company") PROPOSED CONVERSION AND CONSOLIDATION OF THE SHARE CAPITAL ("THE CORPORATE ACTIONS"), RELEVANT AMENDMENTS TO THE MEMORANDUM OF INCORPORATION ("MOI") AND NOTICE OF GENERAL MEETING PROPOSED CONVERSION AND CONSOLIDATION OF THE SHARE CAPITAL Shareholders are advised of the following corporate actions by the company: Conversion: It is proposed that: - the authorised ordinary share capital of the company of R1 000 000 divided into 10 billion ordinary par value shares of R0.0001 each be converted into 10 billion ordinary shares of no par value; and - the issued share capital of the company of R527 073 divided into 5 270 732 462 ordinary par value shares of R0.0001 each be converted into 5 270 732 462 ordinary shares of no par value. Consolidation: The board is of the opinion that the authorised share capital of the company, the number of shares in issue and the share price of the company are at a level which elicits little interest in the company by the Market, and accordingly propose that the company`s share capital be consolidated on a 50:1 basis. Amendments to the MOI: The company`s MOI will be amended to take account of the corporate actions. Salient dates and times relating to the corporate actions: 2012 Last day to trade to be eligible to vote at the general meeting Friday, 27 January Record date for general meeting Friday, 3 February Last day to lodge forms of proxy for the general By 10:00 on Monday, 6 meeting February 2012 or they may be handed to the Chairman of the meeting at any time prior to the commencement of voting on
the Resolutions tabled at the general meeting as contemplated by the Act
General meeting of shareholders to be held at 10:00 on Wednesday, 8 February Results of the general meeting released on SENS on or about Wednesday, 8 February Receive CIPC registrations of special resolutions by this date Thursday, 16 February THE DATES BELOW MAY CHANGE AS THEY ARE SUBJECT TO THE REGISTRATIONS BY CIPC OF THE RELEVANT SPECIAL RESOLUTIONS AND THE PROVISION OF COPIES THEREOF TO THE JSE. ANY SUCH CHANGES WILL BE ADVISED ON SENS. Finalisation announcement in respect of the corporate actions released on SENS Friday, 17 February Last date to trade in the company`s shares pre- the corporate actions Friday, 24 February Converted and consolidated shares trade under new ISIN ZAE000163382 Monday, 27 February Record date to determine those shareholders whose shares will be subject to the corporate actions Friday, 2 March
Dematerialised shareholders accounts at CDSP`s or brokers updated in respect of the corporate actions Monday, 5 March Replacement share certificates (reflecting the share conversion and consolidation) posted to certificated shareholders by registered post, provided their existing share certificates are surrendered by 12:00 on the record date (otherwise within five business days after receipt of such existing share certificates). Monday, 5 March Notes: 1. The above dates and times are subject to amendment and any amendment made will be released on SENS. 2. All times given are South African local times. 3. Shareholdings may not be dematerialised or rematerialised between Monday, 27 February 2012 and Friday, 2 March 2012, both dates inclusive. GENERAL MEETING A general meeting of shareholders of the company will be held at the company`s offices, Vunani House, Athol Ridge Office Park, 151 Katherine Street, Sandown on Wednesday, 8 February 2012 at 10:00, to consider the proposed corporate actions. A circular to shareholders relating to the proposed corporate actions, containing a notice of general meeting as set out above, was distributed to shareholders today. SANDTON 10 January 2012 Independent Designated Adviser Grindrod Bank Limited Corporate Adviser and Joint Designated Adviser Vunani Corporate Finance Date: 10/01/2012 15:47:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
