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PHUMELELA GAMING & LEISURE LIMITED - Results of the rights offer successful raising of R289 million

Release Date: 06/02/2017 17:07
Code(s): PHM     PDF:  
Wrap Text
Results of the rights offer – successful raising of R289 million

Phumelela Gaming & Leisure Limited
(Registration number 1997/016610/06)
(Incorporated in the Republic of South Africa)
Share Code: PHM ISIN: ZAE000039269
(“Phumelela” or the “Company”)

NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS
UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT


RESULTS OF THE RIGHTS OFFER – SUCCESSFUL RAISING OF R289 MILLION



Phumelela shareholders (“Shareholders”) are referred to the circular (“Circular”) dated Tuesday, 17 January 2017
relating to the renounceable rights offer of R289 million (“Rights Offer”).

The Rights Offer consisted of an offer of 16 602 230 Phumelela shares (“Rights Offer Shares”) in the ratio of
21.91067 Rights Offer Shares for every 100 ordinary shares held on the record date of the Rights Offer, at a
subscription price of R17.39 per Rights Offer Share.

The Rights Offer closed at 12h00 on Friday, 3 February 2017 and was significantly oversubscribed. The results of the
Rights Offer are set out below:

                                                                           Percentage of
Applications                                     Number of shares           Rights Offer              Value (R'm)
                                                                                 Shares


Subscriptions for Rights Offer Shares                   15 589 324                  93.9%                   271.1
Applications for excess Rights Offer Shares             32 552 868                 196.1%                   566.1
Total applications for Rights Offer Shares              48 142 192                 290.0%                   837.2


                                                                           Percentage of
Allocations                                      Number of shares           Rights Offer              Value (R'm)
                                                                                 Shares


Subscriptions for Rights Offer Shares                   15 589 324                  93.9%                   271.1
Excess Rights Offer Shares allocated                     1 012 906                   6.1%                     17.6
Total Rights Offer Shares allocated                    16 602 230                  100.0%                   288.7

The excess applications applied for will be allocated equitably, taking cognisance of the number of Phumelela shares
and rights held by each Shareholder immediately prior to such allocation, including those taken up as a result of the
Rights Offer, and the number of excess shares applied for by such Shareholder.

Share certificates will be posted to certificated Shareholders, who followed their rights, on Monday, 6 February 2017.
Dematerialised Shareholders who have subscribed for Rights Offer Shares will have their accounts debited and
updated by their CSDP or broker on Monday, 6 February 2017.

Share certificates will be posted to certificated Shareholders who have applied for excess Rights Offer Shares on
Wednesday, 8 February 2017 and dematerialised Shareholders who applied for excess Rights Offer Shares will have
the excess Rights Offer Shares allocated to them and credited to their accounts by their CSDP or broker on
Wednesday, 8 February 2017.

Refund payments in respect of unsuccessful applications will be made to the relevant applicants on or about
Wednesday, 8 February 2017. No interest will be paid on monies received in respect of unsuccessful applications.

Following the conclusion of the Rights Offer, the total issued share capital of the Company will increase to 93,704,115
shares.


Financial Advisor and Sponsor to the Rights Offer
Investec Bank Limited

Legal Advisor
Roodt inc.

Johannesburg
6 February 2017

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