ALERT STEEL HOLDINGS LIMITED - Claw back offer and withdrawal of cautionary announcement

Claw back offer and withdrawal of cautionary announcement

Alert Steel Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/005144/06)
JSE Share Code: AET ISIN: ZAE000092847
(“Alert Steel” or “the Company”)




 CLAW-BACK OFFER AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT


1.      INTRODUCTION

Shareholders are referred to the SENS announcement dated 17 October 2013, where shareholders
were advised that the resolutions pertaining to the Specific Issue of shares were withdrawn and the
board of Alert Steel had decided to proceed with a Rights Offer.

Shareholders are now advised that the board of Alert Steel has resolved to rather undertake a
renounceable Claw-back offer to Alert Steel shareholders of 48 000 000 shares of no par value in the
share capital of Alert Steel at a subscription price of 200 cents per claw-back share in the ratio of
92.44345 claw-back share for every 100 Alert Steel shares held (“the Claw-back Offer”).

The subscription price represents a premium of approximately 30% to the 30 day volume weighted
average share price of Alert Steel over the 30 days ended 11 April 2013, which was the date on which
the issue price for the Specific Issue of shares for cash as announced on SENS was agreed upon by
the board of Alert Steel.

The purpose of the Claw-back offer is to redeem debt owing by Alert Steel to Cannistraro Investments
282 (Pty) Ltd (“Cannistraro”).

2.      SUBSCRIBER

The Claw-back Offer has been fully subscribed by Cannistraro (“Subscriber”) in accordance with a
subscription agreement entered into between the Subscriber and the Company on 27 November 2013.

There is no subscription fee payable to the Subscriber.

Shareholders will not be allowed to submit applications to acquire additional shares (so-called excess
applications).

3.      DETAILED ANNOUNCEMENT

A detailed announcement including the salient dates of the Claw-back offer will be made in due course.


4.      WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the cautionary announcement dated 17 October 2013 and are advised
that caution is no longer required in dealing in the company’s securities on the JSE.



28 November 2013
Pretoria

Designated Adviser
Exchange Sponsors

Date: 28/11/2013 11:42:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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