ESOR LIMITED - Proposed Rights Offer and Cautionary Announcement

Proposed Rights Offer and Cautionary Announcement

ESOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1994/000732/06)
JSE code: ESR
ISIN: ZAE000184669
(“Esor” or “”the Company”)

PROPOSED RIGHTS OFFER AND CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the announcement released on SENS on 10 October 2016
relating to the acquisition by the Company of Tuboseal Services Proprietary Limited and
the Business   Assets   and   Operations    from   Tuboseal Proprietary   Limited (“the
Acquisition)”.

Esor intends to undertake a rights offer (“Proposed Rights Offer”) during January of 2017
at which time the detailed terms of the Proposed Rights Offer will be released on SENS.

The proceeds from the Proposed Rights Offer will be used to repay a credit facility that
was made available to Esor to fund the Acquisition by Geomer Investments Proprietary
Limited (“Geomer Investments”).

Esor anticipates that the Proposed Rights Offer will consist of an offer of 98 796 357
shares in Esor at a price of 38 cents.

Geomer Investments have committed to fully underwrite the Prosed Rights Offer.


Cautionary Announcement

Esor shareholders are advised that the final terms of the Proposed Rights Offer will be
announced in due course. Shareholders are accordingly advised to exercise caution when
dealing in the Company's securities until a further announcement regarding the Proposed
Rights Offer is made.


Germiston
26 October 2016

Sponsor
Vunani Corporate Finance

Date: 26/10/2016 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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