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Clarification announcement in respect of the Share Consolidation and Share Conversion
VILLAGE MAIN REEF LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1934/005703/06)
Share code: VIL ISIN: ZAE000154761
(“Village” or “the Company”)
CLARIFICATION ANNOUNCEMENT IN RESPECT OF THE SHARE CONSOLIDATION AND SHARE CONVERSION
Shareholders are referred to the announcements released on SENS on 22 August 2014, 10 September 2014, 19 September 2014
and 23 October 2014 regarding a consolidation of the authorised and issued share capital of the Company ("Consolidation") and the
conversion of the authorised and issued share capital of the Company from par value shares to no par value shares ("Conversion")
("Announcements").
The Share Consolidation and Share Capital Conversion are collectively referred to as the Transactions.
The Transactions became effective on Monday, 3 November 2014. The Company wishes to clarify what the impact of the
Transactions will be on shareholders’ holdings.
The Company’s authorised and issued share capital was consolidated on a basis of 1-for-20 shares. Every 20 shares held was
consolidated into 1 share. The Company’s authorised and issued share capital was furthermore converted from par value shares to
no par value shares.
The Company’s share capital before and after the Transactions are shown below:
Share capital BEFORE the Consolidation and Conversion:
Share capital before the Consolidation and Number of shares Total (R)
Conversion
Authorised share capital
5,000,000,000 (five billion) ordinary shares with 5,000,000,000 625,000,000.00
a par value of R0.125 (twelve and a half cents)
Issued share capital
Stated capital 956,961,891 119,620,236.38
Treasury shares 83,735,583 10,466,947.88
Total issued share capital 1,040,697,474 130,087,184.25
Share capital AFTER the Consolidation and Conversion:
Share capital after the Consolidation and Number of shares Total (R)
Conversion
Authorised share capital
250,000,000 ordinary shares of no par value 250,000,000 -
Issued share capital
Stated capital 47,848,095 5,981,011.88
Treasury shares 4,186,779 523,347.38
Total issued share capital 52,034,874.00 6,504,359.25
The effect of the Transactions on a shareholder holding for example 10,000 shares, is shown below:
Shareholding before the Transactions Number of shares Value at share
price of R0.37
10,000 (ten thousand) ordinary shares with a 10,000 R3,700
par value of R0.125 (twelve and a half cents)
Shareholding after the Transactions Number of shares Value at share
price of R7.40
(R0.37 x 20)
10,000 (ten thousand) ordinary shares with no 500 R3,700
par value
Shareholders are advised that the value of their shares will remain the same after the Transactions.
For any further information please contact:
Village CEO: Ferdi Dippenaar; ferdi@villagemainreef.co.za
Village CFO: Clinton Halsey; chalsey@villagemainreef.co.za
Village Media and Investor Relations: Russell and Associates; jan@rair.co.za
Village JSE Sponsor: Bravura Capital; dhattingh@bravura.net
4 November 2014
Johannesburg
Sponsor
Bravura Capital (Pty) Ltd
Date: 04/11/2014 10:22:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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