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Finalisation announcement of Salient Dates for the Rights Offer
ECSPONENT LIMITED
(formerly John Daniel Holdings Limited)
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
("the Company" or "ECS" or "the Group")
FINALISATION ANNOUNCEMENT OF SALIENTS DATES FOR THE RIGHTS OFFER
INTRODUCTION
The Directors of Ecsponent are pleased to advise shareholders of the successful conclusion of
negotiations in respect of the Company’s expansion strategy.
As previously announced on 7 November 2013, 20 December 2013, 10 January 2014, 25 February 2014,
7 March 2014, 23 April 2014, 4 June 2014 and 17 July 2014, the board of Ecsponent has decided to
expand its financial services business in Africa and requires an injection of capital and debt in order to
grow the underlying operations, acquire new businesses in Africa and begin Greenfield operations in
certain countries.
In terms of the injection of capital required, shareholders have been advised that the Company is
proceeding with a rights offer of R100 100 000 through the issue of 715 000 000 new shares at an issue
price of 14 cents per share. The rights offer will be partially underwritten by its controlling shareholder,
Ecsponent Capital (RF) Limited (formerly Escalator Capital (RF) Limited) (“Escalator”) through the
capitalisation of its loan account in Ecsponent expected to amount to approximately R45 million at the
date of the rights offer. In addition, Escalator has advised of its intention to provide a funding facility to
Ecsponent up to R55 million, being the R100 million rights offer less the proceeds of the intended rights
offer inclusive of the underwritten amount. The funding facility will be convertible into ordinary shares in
Ecsponent at the rights offer price as approved in General Meeting on 25 July 2014. Shareholders also
approved the three related party acquisitions (“Acquisitions”) as previously announced.
The capital raised from the Rights Offer or Convertible Loan will be utilised to further strengthen the
balance sheet of the group and then fund the continued organic growth of the existing operations as well
as the new Acquisitions. Ecsponent also intends to establish a financial services business in Zambia.
The details of the salient dates for the Rights Offer are set out below:
RIGHTS OFFER TIMETABLE 2014
Finalisation announcement Tuesday, 26 August
Last day to trade in Shares in order to participate in the Rights Offer Friday, 29 August
(cum entitlement) Friday, 29 August
Shares commence trading ex-entitlement at 09:00 on Monday, 1 September
Listing of and trading in the Letters of Allocation on the JSE under the Monday, 1 September
code ECSN and ISIN ZAE000193207 commences at 09:00 on Monday, 1 September
Circular and Form of Instruction, where applicable, posted to Tuesday, 2 September
certificated Shareholders Tuesday, 2 September
Record Date for the Rights Offer Friday, 5 September
Rights Offer opens at 09:00 on Monday, 8 September
Letters of Allocation credited to an electronic account held at the Monday, 8 September
Transfer Secretaries in respect of holders of Certificated Shares Monday, 8 September
CSDP or Broker accounts credited with entitlements in respect of Monday, 8 September
holders of Dematerialised Shares Monday, 8 September
Circular posted to dematerialised shareholders, where applicable Tuesday, 9 September
Last day for trading Letters of Allocation on the JSE Friday, 12 September
Listing of Rights Offer Shares and trading therein on the JSE Monday, 15 September
commences at 09:00 on Monday, 15 September
Rights Offer closes 12:00 on (See notes 3 and 4) Friday, 19 September
Payment to be made and Form of Instruction to be lodged with the Friday, 19 September
Transfer Secretaries by holders of Certificated Shares by 12:00 Friday, 19 September
Record date for the Letters of Allocation Friday, 19 September
Rights Offer Shares issued Monday, 22 September
CSDP or Broker accounts in respect of holders of Dematerialised
Shares debited with money and updated with Rights Offer Shares and Monday, 22 September
share certificates posted to Certificated Shareholders by registered post
on or about Monday, 22 September
Results of the Rights Offer announced on SENS Monday, 22 September
Results of the Rights Offer published in the press Tuesday, 23 September
CSDP or Broker accounts in respect of holders of Dematerialised
Shares debited and updated with Excess Share Allocations, if any, and
share certificates or refund cheques, if applicable, posted to Certificated Thursday, 25 September
Shareholders by registered post on or about Thursday, 25 September
Notes:
1. Share certificates in respect of Shares may not be dematerialised or rematerialised between Monday,
1 September 2014 and Friday, 5 September 2014, both days inclusive.
2. A CSDP will effect payment on a delivery versus payment method in respect of Qualifying
Shareholders holding Dematerialised Shares.
3. If you are a Qualifying Shareholder holding Dematerialised Shares you are required to notify your duly
appointed CSDP or Broker of your instructions in respect of the Rights Offer in the manner and time
stipulated in the custody agreement governing the relationship between yourself and your CSDP or
Broker.
4. Unless otherwise indicated, all dates and times are South African dates and times.
By order of the board
Pretoria
26 August 2014
Sponsor
Arcay Moela Sponsors Proprietary Limited
Date: 26/08/2014 02:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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