PALLINGHURST RESOURCES LIMITED - Results of rights offer

Results of rights offer


PALLINGHURST RESOURCES LIMITED
 (Incorporated in Guernsey)
(Guernsey registration Number: 47656)
(South African external company registration number 2009/012636/10)
Share code on the BSX: PALLRES      ISIN: GG00B27Y8Z93
                      		Share code on the JSE: PGL
("Pallinghurst" or the "Company")

RESULTS OF RIGHTS OFFER
Shareholders of Pallinghurst are referred to the announcement released on the Securities Exchange News Service of the JSE Limited on Monday, 11 June 2012 and published in the South African press on Tuesday, 12 June 2012 ("Rights Offer Announcement"), setting out the terms of the renounceable rights offer of new Pallinghurst Ordinary Shares ("Rights Offer Shares") at a subscription price of 224 cents per Rights Offer Share as proposed by Pallinghurst ("Rights Offer"). 
               
The Rights Offer closed on Friday, 20 July 2012 and the Board of Directors of Pallinghurst is pleased to advise that the results of the Rights Offer are as follows:    

* Shareholders and their renouncees subscribed for 254,860,560 Rights Offer Shares under their rights entitlement; 
* Furthermore, shareholders and their renouncees filed excess applications for 29,788,211 Rights Offer Shares in addition to their rights entitlements; increasing the total applications for Rights Offer Shares to 284,648,771; 
* All applicants were successfully allocated the requested Rights Offer Shares in full; and
* The Shareholders and their renouncees have paid for all the allocated Rights Offer Shares in full.

The custody accounts of holders of dematerialised Pallinghurst Ordinary Shares, who have followed their rights, or their renouncees, will be updated and their accounts at their Central Securities Depository Participant ("CSDP") or broker credited with the Rights Offer Shares and debited with any payment due, today. 

The custody accounts of holders of dematerialised Pallinghurst Ordinary Shares, or their renouncees, who have been allocated Rights Offer Shares in their excess applications, will be updated and their accounts at their CSDP or broker credited on Wednesday, 25 July 2012.  

Share documentation will be posted to holders of BSX shares, or their renouncees, who have been allocated Rights Offer Shares, including excess applications, today. 

Guernsey                                                                     
23 July 2012

Investment Bank and Sponsor
Investec Bank Limited

Date: 23/07/2012 01:34:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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