CHEMICAL SPECIALITIES LIMITED - Results of the rights offer

Results of the rights offer

CHEMICAL SPECIALITIES LIMITED
Incorporated in the Republic of South Africa
Registration number 2005/039947/06
Share code: CSP
ISIN: ZAE000109427
("ChemSpec" or "the Company")

RESULTS OF THE RIGHTS OFFER

Shareholders are referred to the finalisation announcement released
on the Stock Exchange News Service (“SENS”) of the JSE Limited
(“JSE”) on 18 October 2013 and the circular to ChemSpec ordinary
shareholders dated 28 October 2013 relating to the ChemSpec rights
offer, in terms of which a total of 535,930,824 ChemSpec compulsory
convertible preference shares (“CCPs”) in the authorised but unissued
share capital of ChemSpec were offered for subscription to qualifying
ChemSpec shareholders, by way of renounceable rights, at a
subscription price of 40 cents per ChemSpec ordinary share, on the
basis of 50 CCPs for every 100 existing ChemSpec ordinary shares held
at the close of trade on the record date of the rights offer.

The rights offer closed on Friday, 22 November 2013 and the results
thereof are set out in the table below.
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                               Number of     % of     Value of CCPs
                               CCPs          rights   @ 40 cents per
                                             offer    rights offer
                                             CCPs     CCP
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Rights offer CCPs
available for subscription     535,930,824   100.00   R214,772,329.60
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Certificated number of rights
offer CCPs taken up            -             -        -
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Uncertificated number of
rights offer CCPs taken up     378,420,238   70.48    R151,368,095.20
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Total of rights offer CCPs
exercised                      378,420,238   70.48    R151,368,095.20
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Excess rights offer CCPs
applied for                    586,000       0.11     R234,400.00
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Excess rights offer CCPs
allocated                      586,000       0.11     R234,400.00
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Rights offer CCPs taken
up by the underwriter          10,000,000    1.86     R4,000,000.00
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Total rights offer CCPs
allocated                      399,006,238   72.45    R155,602,495.20
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Shareholders are advised that all excess applications have been
allocated in full.

The CSDP or broker accounts in respect of dematerialised shareholders
will be updated with rights offer CCPs and debited with any payments
due on Tuesday, 26 November 2013.

Johannesburg
26 November 2011

Corporate and Designated Adviser
Grindrod Bank Limited

Date: 26/11/2013 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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