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Results of shareholders' meeting and rights offer finalisation announcement
SEARDEL INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1968/011249/06
N-Shares share code: SRN; Ordinary Shares share code: SER
ISIN: ZAE000030144; ISIN: ZAE000029815
(“Seardel” or “the Company”)
RESULTS OF SHAREHOLDERS’ MEETING AND RIGHTS OFFER FINALISATION ANNOUNCEMENT
1. Introduction
Holders of Seardel “N” ordinary shares (“N-Shares”) and Seardel ordinary shares (“Ordinary Shares”)
(collectively, the “Seardel Shareholders”) are referred to the SENS announcement and circular dated
24 February 2014, regarding the fully underwritten, renounceable rights offer to raise R5 billion through the
issue of 3.125 billion new N-Shares in the ratio of 258.93 new N-Shares (“Rights Offer Shares”) for every 100
Ordinary Shares and/or N-Shares held on the rights offer record date, at an issue price of R1.60 per Rights
Offer Share (the “Rights Offer”). Seardel Shareholders are advised that all of the resolutions proposed at
Seardel’s shareholders’ meeting held today were passed by the requisite majority of Seardel Shareholders and
accordingly that the Rights Offer is now unconditional and will proceed in accordance with the previously
published timetable which is reproduced below.
2. Salient dates and times
The salient dates and times pertaining to the Rights Offer are as follows: 2014
Finalisation announcement released on SENS on Tuesday, 25 March
Last day to trade in Seardel Shares on the JSE for settlement by the Rights
Offer record date and to be recorded as a qualifying Seardel Shareholder
for the purpose of receiving rights, on Friday, 28 March
Seardel Shares trade ex-rights on the JSE, from Monday, 31 March
Listing and trading on the JSE of the letters of allocation
(ISIN-ZAE000188868), from the commencement of trade, on Monday, 31 March
Issue of letters of allocation to qualifying certificated Seardel Shareholders
and posting of the form of instruction (where applicable) Tuesday, 01 April
Rights Offer record date in order to be entitled to participate in the Rights
Offer, on Friday, 04 April
Rights Offer opens at 09:00 on Monday, 07 April
Letters of allocation credited to an electronic account held at the transfer
secretaries in respect of qualifying certificated Seardel Shareholders, on Monday, 07 April
CSDP or broker accounts credited with rights in respect of qualifying
dematerialised Seardel Shareholders, on Monday, 07 April
Last day to trade in letters of allocation on the JSE in order to settle by
close of the Rights Offer, on Wednesday, 16 April
Listing and trading on the JSE of Rights Offer Shares commences on Thursday, 17 April
Payment to be made to, and form of instruction to be lodged with, the
transfer secretaries by qualifying certificated Seardel Shareholders, by
12:00 on Friday, 25 April
Rights Offer closes at 12:00 on Friday, 25 April
Record date for letters of allocation, on Friday, 25 April
Rights Offer Shares issued on Tuesday, 29 April
CSDP or broker accounts of dematerialised Seardel Shareholders debited
and updated with Rights Offer Shares and share certificates posted to
certificated Seardel Shareholders on Tuesday, 29 April
Results of Rights Offer announced on SENS on Tuesday, 29 April
Results of Rights Offer announced in the press on Wednesday, 30 April
Refunds (if any) to qualifying Seardel Shareholders in respect of
unsuccessful excess applications made and/or Seardel share certificates
posted on or about Friday, 2 May
Dematerialised Seardel Shareholders accounts updated and debited by
CSDP or broker in respect of any additional Seardel N-Shares allocated on Friday, 2 May
The above dates and times are subject to change. Any such changes will be published on SENS.
Notes:
1. All times indicated are South African times.
2. Dematerialised Seardel Shareholders are required to inform their CSDP or broker of their instructions in
respect of the Rights Offer in the manner and time stipulated in the agreement governing the relationship
between the Seardel Shareholder and its CSDP or broker.
3. Seardel share certificates may not be dematerialised or rematerialised between Monday, 31 March 2014
and Friday, 4 April 2014, both days inclusive.
4. Qualifying dematerialised Seardel Shareholders will have their accounts at their CSDP or broker
automatically credited with their rights and qualifying certificated Seardel Shareholders will have their rights
credited to a nominee account at Computershare Investor Services Proprietary Limited.
5. CSDPs effect payment in respect of dematerialised Seardel Shareholders on a delivery-versus-payment
method.
Cape Town
25 March 2014
Investment bank and sponsor
Investec Bank Limited
Joint corporate law advisor
Taback and Associates Proprietary Limited
Joint corporate law advisor
Edward Nathan Sonnenbergs Inc.
Reporting accountants
Grant Thornton (Jhb) Inc
Date: 25/03/2014 12:23:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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