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SENTULA MINING LIMITED - Successful completion of rights offer

Release Date: 18/03/2016 15:45
Code(s): SNU     PDF:  
Wrap Text
Successful completion of rights offer

Sentula Mining Limited
Incorporated in the Republic of South Africa
(Registration number 1992/001973/06)
Share code: SNU ISIN: ZAE000107223
(“Sentula” or “the Company”)

SUCCESSFUL COMPLETION OF RIGHTS OFFER

Shareholders are referred to the announcements released on the JSE Stock Exchange News Service
(“SENS”) on 19 February 2016 and 23 February 2016 and the circular dated 1 March 2016 wherein the
Company announced its intention to raise R104.58 million through a partially underwritten renounceable
rights offer (“the Rights Offer”).

The Rights Offer closed at 12h00 on Friday, 18 March 2016, and the board of directors of Sentula is
pleased to announce that the Company has raised R104.58 million.

The results of the Rights Offer are set out in the table below:

                                           Number of Rights        Rand value      % of Rights Offer
                                              Offer Shares                                   Shares
 Total shares available for                   581 005 310         R104 580 955               100.0%
 subscription in terms of the Rights
 Offer
 (“Rights Offer Shares”)


 Rights Offer Shares subscribed for             401 256 461      R72 226 162.98                 69%
 Share allocated to underwriters:

 JB     Private    Equity    Investors
 Partnership (“the Partnership”), an en
 commmandite partnership between                124 193 294      R22 354 792.92                 21%
 Calibre Capital Proprietary Limited,
 RECM and Calibre Limited, JB Capital
 Proprietary Limited and JB Private
 Equity Investors Trust

 The Dalikhaya Rain Zihlangu Family              55 555 555         R10 000 000                 10%
 Trust (“the DRZ Family Trust”)

 Total                                          581 005 310       R104 580 955.9               100%


Following the issue of the Rights Offer Shares, the number of Sentula shares in issue is 1 167 564 491.

Dealings by associates of directors

In compliance with the JSE Listings Requirements, the following associates of directors of Sentula
subscribed for shares in Sentula, in compliance with the underwriting agreements pursuant to the
Rights Offer.



 Name of director:                                        R Zihlangu

 Type of director:                                        Non-executive director

 Name of associate:                                       The DRZ Family Trust

 Relationship:                                            Trustee and beneficiary
 Nature of transaction:                                   Off-market purchase of ordinary shares in
                                                          terms of the Rights Offer

 Number and class of securities purchased:                55 555 555 ordinary shares

 Date of the transaction:                                 18 March 2016

 Price:                                                   18 cents per share

 Total value:                                             R10 000 000.00

 Nature of interest:                                      Indirect beneficial


 Name of director:                                        J Badenhorst

 Type of director:                                        Executive director

 Name of associate:                                       The Partnership

 Relationship:                                            Trustee and indirect beneficiary of JB Private
                                                          Equity Investors Trust, the general partner to
                                                          the Partnership

 Nature of transaction:                                   Off-market purchase of ordinary shares in
                                                          terms of the Rights Offer

 Number and class of securities purchased:                124 193 294 ordinary shares

 Date of the transaction:                                 18 March 2016

 Price:                                                   18 cents per share

 Total value:                                             R22 354 792.92

 Nature of interest:                                      Indirect beneficial


Issue and payment of Rights Offer Shares

The Central Securities Depository Participant (“CSDP”) or broker accounts of dematerialised Sentula
shareholders who have followed their rights in terms of the Rights Offer will be credited with their Rights
Offer Shares and debited with any payments due on or about Tuesday, 22 March 2016.

Certificated shareholders who subscribed for Rights Offer Shares will have their new share certificate
posted to them at their own risk on Tuesday, 22 March 2016.


Johannesburg

18 March 2016

Corporate adviser and sponsor
Questco

Date: 18/03/2016 03:45:00 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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