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General issue of shares for cash and partially underwritten Rights Offer
IMBALIE BEAUTY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2003/025374/06)
(Share Code: ILE ISIN: ZAE000165239)
(“Imbalie” or “the company”)
General issue of shares for cash and partially underwritten Rights Offer
1. General issue of shares for cash
Shareholders are advised that Imbalie has issued a total of 25 million Imbalie ordinary
shares of no par value (“ordinary shares”) at a price of 12 cents per share (“the Issue
Price”) for cash (‘the Cash Issue’). The Cash Issue represents approximately 7.0% of the
issued share capital of Imbalie before this issue and is done in terms of a general authority
to issue shares for cash.
The Issue Price represents a discount of approximately 7.7% to the 30 day volume
weighted average price of ordinary shares up to and including Thursday, 22 October 2015,
being the day prior to the date on which the board of directors authorised the Cash Issue.
The ordinary shares issued in terms of the Cash Issue will rank pari passu with the existing
ordinary shares in issue and will be listed on the JSE on Friday, 4 December 2015.
2. Partially underwritten Rights Offer
Shareholders are advised that the board of Imbalie has resolved to undertake a Rights
Offer of 208 333 333 ordinary shares at 12 cents per share to raise R25 million. The Rights
Offer price of 12 cents per share represents a discount of approximately 7.7% to the 30
day volume weighted average price of the ordinary shares up to and including Thursday,
22 October 2015, being the day prior to the date on which the board of directors authorised
the Rights Offer.
Imbalie entered into an underwriting agreement on 30 November 2015 with Gayatri Paper
Mills (Proprietary) Limited and SA Madiba Investments (Proprietary) Limited (“SA Madiba”)
in terms of which they agreed to partially underwrite the allotment and issue of 141 666
666 ordinary shares of the Rights Offer at 12 cents per share, being a total underwriting
commitment of R17 million. Mr W.P. van der Merwe, an executive director of Imbalie, is a
shareholder and director of SA Madiba.
The net proceeds of the Cash Issue and the Rights Issue will be used to repay debt and
for working capital purposes.
3. Detailed announcement
A detailed announcement including the salient dates of the Rights Offer will be made in
due course.
3 December 2015
Centurion
Designated Advisor
Exchange Sponsors
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