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Partially underwritten rights offer
RBA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/009701/06)
(JSE code: RBA ISIN: ZAE000104154)
(RBA or the company)
Partially underwritten rights offer
Rights offer
Shareholders are advised that the board of RBA has resolved to undertake a rights offer
of 125 000 000 shares at 8 cents per share to raise R10 million. The rights offer price
of 8 cents per share represents a discount of approximately 30% to the volume weighted
average price of RBA for the last few months. The proceeds of the rights issue will be
used to further reduce short term debt and meet ongoing operational requirements.
Underwriting
The rights offer will be partially underwritten by a management consortium led by the CEO,
AJ Rothman, in the amount of R3.5 million. An underwriting agreement in respect of
R3 million was entered into between RBA and AJ Rothman on 28 March 2013 and contains
suspensive conditions customary to underwriting agreements.
RBA may procure additional underwriters before the draft circular is submitted to the JSE.
All underwriters will be paid an underwriting commission of 3%.
Shareholders will be allowed to submit applications to acquire additional shares
(so-called excess applications).
Loan agreement
AJ Rothman entered into a loan agreement with RBA on 28 March 2013 to lend and advance
an amount of R3 million to RBA, which amount will be earmarked and applied for his
obligations as underwriter.
Detailed announcement
A detailed announcement including the salient dates of the rights offer will be made
in due course.
2 April 2013
Johannesburg
Designated Advisor
Exchange Sponsors
Date: 02/04/2013 01:59:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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