Sharenet Sites 
Sharenet Sites
ISSUE OF R1.5 BILLION OF PREFERENCE SHARES
BRAIT SE
(Registered in Malta as a European Company)
(Registration No.SE1)
Share code: BAT & ISIN: LU0011857645
(“Brait” or “the Company”)
ISSUE OF R1.5 BILLION OF PREFERENCE SHARES
The directors of Brait ("Directors") wish to advise Brait
shareholders of the results of the offer to select investors via a
private placement, to subscribe for cumulative, non-participating,
preference shares with a nominal value of Euro 0.01 each
(“Preference Shares”), the terms of which were outlined in the
abridged pre-listing statement dated 30 July 2012 ("Offer for
Subscription").
The Offer for Subscription was expected to raise approximately R1
billion to R1.5 billion, subject to investor demand. The Directors
are pleased to report that Brait received applications to
subscribe for Preference Shares in terms of the Offer for
Subscription in excess of R2 billion.
Consequent upon its current capital requirements, Brait has
elected to accept Offers for Subscription for an aggregate amount
of R1.5 billion in terms of this initial issuance. Such issuance
will enable the Company to settle its existing borrowings with the
proceeds of the Preference Share issue in full, whilst retaining
cash and borrowing facilities of at least R2.5 billion for future
investment opportunities.
In its capacity as Underwriter to the Offer for Subscription,
FirstRand Bank Limited (acting through its Rand Merchant Bank
division) was not required to subscribe for any Preference Shares.
Investors that participated via the private placement process have
been advised of their final allocations.
Brait will therefore issue 15 million Preference Shares, at an
issue price of ZAR100 each. This will result in an issuance of R1.5
billion.
The Preference Shares will be admitted to the official list of
the Luxembourg Stock Exchange (“LuxSE”) to be traded on the Euro
MTF market under the abbreviation “BRAITPRF” with common code
081058172 and ISIN number MT0000680208, and the securities
exchange operated by the JSE Limited under the abbreviated name
"BRAIT PREF" and with alpha code “BATP” in the "Specialist
Securities" - Preference Share sector of the market, and will
commence trading on Monday, 6 August 2012. The Preference Shares
have been accepted for clearance and settlement on the LuxSE
through the facilities of Clearstream and Euroclear.
Malta
31 July 2012
Advisor, Arranger, Underwriter and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Attorneys – South Africa
Cliffe Dekker Hofmeyr Inc.
International Counsel and LuxSE Listing Agent
Maitland
Date: 31/07/2012 08:00:00 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.
