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CERAMIC INDUSTRIES LIMITED - Results of the Joint Offer by Italtile and Rallen to Independent Ceramic Shareholders

Release Date: 26/11/2012 09:18
Code(s): CRM ITE     PDF:  
Wrap Text
Results of the Joint Offer by Italtile and Rallen to Independent Ceramic Shareholders

ITALTILE LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1955/000558/06)

ISIN: ZAE000099123

JSE Share Code: ITE

(“Italtile”)



CERAMIC INDUSTRIES LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1982/008520/06)

ISIN: ZAE000008538

JSE Share Code: CRM

(“Ceramic” or “the Company”)



Results of the Joint Offer by Italtile and Rallen to Independent Ceramic
Shareholders

1    Introduction

Italtile and Ceramic shareholders (“Shareholders”) are referred to the
joint announcement published on the Securities Exchange News Service of
the JSE Limited on Tuesday, 6 November 2012 relating to the joint offer
by Rallen Proprietary Limited (“Rallen”) and Italtile (“Joint Offer”)
becoming unconditional and incorporating the revised salient times and
dates pertaining to the Joint Offer. Full details of the Joint Offer
were contained in the circular to Ceramic shareholders dated Monday,
1 October 2012.

2    Results of the Joint Offer

Shareholders are advised that the Joint Offer closed at 12:00 on Friday,
23 November 2012 and was validly accepted by Ceramic shareholders, other
than Rallen and its subsidiaries, Mr GAM Ravazzotti and Ceramic’s
subsidiary companies (“Independent Ceramic Shareholders”), in respect of
5 497 832 of their Ceramic shares (27.1% of Ceramic’s issued share
capital).

3    Closure of the Joint Offer

Independent Ceramic Shareholders are hereby advised that the Joint Offer
has been successfully concluded and is now closed.

Ceramic share certificates in the unlisted Ceramic will be posted to
Independent Ceramic Shareholders who have elected to retain all or some
of their Ceramic shares, at their own risk, on or about Tuesday, 27
November 2012.


Johannesburg

26 November 2012


Sponsor to Italtile                  Sponsor to Ceramic

KPMG Services (Pty) Ltd              One Capital



Legal advisor to Italtile            Legal advisor to Ceramic

Webber Wentzel                       Edward Nathan Sonnenbergs



Legal advisor to Rallen              Independent expert

Eversheds                            Nodus Capital (Pty) Ltd



Corporate advisor to Rallen

Rabin & Associates

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