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ADVTECH LIMITED - Results of rights offer

Release Date: 07/12/2015 12:25
Code(s): ADH     PDF:  
Wrap Text
Results of rights offer

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share Code: ADH
ISIN: ZAE000031035
 (“ADvTECH” or the “Company”)

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN RESPECT OF WHICH THE PUBLICATION, DISTRIBUTION OR
RELEASE, DIRECTLY OR INDIRECTLY, OF THIS ANNOUNCEMENT WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS
OF SUCH JURISDICTION OR IN RESPECT OF WHICH THE OFFERING CONTEMPLATED BY THIS ANNOUNCEMENT IS
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO PURCHASE,
OTHERWISE ACQUIRE, SUBSCRIBE FOR, SELL, OTHERWISE DISPOSE OF OR PURCHASE ANY SECURITY IN ANY JURISDICTION.


RESULTS OF RIGHTS OFFER

1.       Introduction

ADvTECH shareholders are referred to the finalisation announcement released on the Stock Exchange News
Services (“SENS”) on 5 November 2015 and the circular to ADvTECH shareholders dated 16 November 2015
relating to a rights offer to raise up to R850 million (“rights offer”).

The rights offer consisted of an offer of 75,555,556 new ADvTECH ordinary shares (“rights offer shares”) in the
ratio of 16.59818 rights offer shares for every 100 ADvTECH ordinary shares held on the record date of the
rights offer, at a subscription price of R11.25 per rights offer share.

2.       Results of rights offer

The rights offer closed at 12:00 on Friday, 4 December 2015 and the Board of directors of ADvTECH advise that
the rights offer was significantly oversubscribed. The results of the rights offer are as follows:

                                                            Number of rights offer               % of rights offer
                                                                           shares

Rights offer shares available for subscription                          75,555,556                            100.0



Subscriptions for rights offer shares                                   74,482,982                             98.6


Applications for excess rights offer shares                            157,112,239                            206.5



Excess rights offer shares available to be allocated                     1,072,574                              1.4



The allocation of rights offer shares in respect of excess applications was equitable and took cognisance of the
number of excess rights offer shares in aggregate for which application was made per nominee account.

Those nominee accounts who applied for, in aggregate, less than or equal to 10,000 rights offer shares were
not allocated any excess applications to mitigate against odd lot holdings.

Following the conclusion of the rights offer, the Company’s total shares in issue will increase to 530,759,317
ADvTECH ordinary shares.

The Underwriters as detailed in the circular will not be required to subscribe for any rights offer shares.
3.       Issue of rights offer shares

Share certificates will be posted to holders of certificated shares who have followed their rights today.
The CSDP or broker accounts of holders of dematerialised shares or their renouncees, who have followed their
rights, will be credited with the rights offer shares and debited with any payments due today.

Share certificates will be posted to holders of certificated shares, or their renouncees, who have been
allocated rights offer shares in terms of excess applications on or about Wednesday, 9 December 2015.

The custody account of holders of dematerialised shares, or their renouncees, who have been allocated rights
offer shares in terms of excess applications, will be updated and their accounts at their CSDP or broker
credited on Wednesday, 9 December 2015.
Cheques refunding monies in respect of unsuccessful excess applications by certificated shareholders will be
posted to the relevant applicants on or about Wednesday, 9 December 2015.


Johannesburg
7 December 2015

Sole bookrunner, financial advisor and transaction sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)

Legal advisor
Cliffe Dekker Hofmeyer

Communications advisor
Brunswick

Sponsor
Bridge Capital Advisors Proprietary Limited

Date: 07/12/2015 12:25:00 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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