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Tap issue of R500 million of preference shares
Brait SE
(Registered in Malta as a European Company)
(Registration No: SE1)
Share code: BAT ISIN: LU0011857645
Share code: BATP ISIN: MT0000680208
(‘Brait’, the ‘Company’ or ‘Group’)
TAP ISSUE OF R500 MILLION OF PREFERENCE SHARES
Following the successful placement of 15 million cumulative, non-
participating preference shares (‘Preference Shares’) on 6 August 2012 for
an aggregate issue price of R1.5 billion, the Directors of Brait
(‘Directors’) wish to advise Brait shareholders of a private placement of
the remaining 5 million authorised, unissued Preference Shares (‘the Tap
Issue’).
The Tap Issue will take place, by way of private placement to select
investors, on the same terms as the existing Preference Shares with a
nominal value of Euro 0.01 each, at par value of R100 for an aggregate
amount of R500 million. The issue at par value represents an approximate
discount of 2.5% to the closing market price on 21 June 2013. Such Tap
Issue completes the 20 million preference share program authorised at the
Extra-ordinary General Meeting held on 25 July 2012.
The Tap Issue will enable the Company to settle its existing borrowings in
full, invest in opportunities identified in its existing platform
investments, whilst retaining cash and borrowing facilities of at least
R2.7 billion for future investment opportunities.
Investors that participated via the private placement process have been
advised of their final allocations.
The current 15 million Preference Shares will be increased by the above-
mentioned 5 million to be issued on 25 June 2013, and the entire 20 million
will trade 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
Tuesday, 25 June 2013. All Preference Shares will continue to be accepted
for clearance and settlement on the LuxSE through the facilities of
Clearstream and Euroclear.
Malta
24 June 2013
Advisor, Arranger and Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
International Counsel and LuxSE Listing Agent
M Partners S.à r.l., a member of the Maitland network
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