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MARA DELTA PROPERTY HOLDINGS LIMITED - Rights Offer Finalisation Announcement

Release Date: 01/06/2017 09:00
Code(s): MDP     PDF:  
Wrap Text
Rights Offer Finalisation Announcement

Mara Delta Property Holdings Limited
(previously Delta Africa Property Holdings Limited)
(Registered by continuation in the Republic of Mauritius)
(Registration number: C128881 C1/GBL)
SEM share code: DEL.N0000
JSE share code: MDP
ISIN: MU0473N00028
(“Mara Delta” or “the Company”)


                           RIGHTS OFFER FINALISATION ANNOUNCEMENT

1. Introduction

    Shareholders of Mara Delta are referred to the cautionary announcements released by the Company on 28 March
    2017 and 28 April 2017, whereby it was announced that Mara Delta intends to proceed with a rights offer of
    98 892 723 ordinary shares (“Rights Offer Shares”) at an issue price of USD 1.40 per share (“Rights Offer Share
    Price”) on the basis of 0.81105 Rights Offer Shares for every 1 ordinary share held (“Rights Offer”), subject to
    regulatory approvals. Mara Delta is seeking to raise a total of USD 138.45 million in terms of the Rights Offer.

2. Rights Offer Circular

    It is anticipated that a circular containing the full details of the Rights Offer and incorporating a form of instruction in
    respect of a letter of allocation reflecting the entitlement of shareholders (applicable to shareholders on the South
    African register only) will be posted to shareholders on or about Monday, 12 June 2017 (“Circular”).

    Shareholders are referred to the Circular for the procedures for acceptance, sale or renunciation of their entitlement
    to the Rights Offer Shares.

    The Circular shall serve as a Prospectus (as defined in the Mauritian Securities Act 2005), Listing Particulars
    pursuant to the SEM Listing Rules and a Rights Offer Circular in terms of the JSE Listings Requirement. The Circular
    has been made available electronically on Mara Delta's website (www.maradelta.com) from Monday, 22 May 2017.

3. Exchange Rate

    The Rand denominated Rights Offer Share Price will be R18.48 per Share. The Rand denominated Rights Offer
    Share Price was calculated by multiplying the USD denominated Rights Offer Share Price by an exchange rate of
    USD1.00: ZAR13.20.

4. Salient dates and times of the Rights Offer

    The salient dates and times of the Rights Offer remain unchanged, as set out in the Rights Offer Declaration
    announcement published on 19 May 2017 (“Declaration announcement”).

5. General

    As disclosed in the Declaration announcement, all conditions precedent to the Rights Offer have been fulfilled and
    the Rights Offer will proceed on the terms and in accordance with the timetable as set out in this announcement
    and the Declaration announcement.

    Mara Delta has its primary listing on both the Official Market of the Stock Exchange of Mauritius Ltd and the Main
    Board of the JSE Limited.

By order of the board

1 June 2017

JSE sponsor and corporate advisor to Mara Delta: PSG Capital Proprietary Limited
SEM authorised representative & sponsor and Mauritian transaction advisor to Mara Delta: Perigeum Capital
                                                                                          
Directors: Sandile Nomvete (chairman), Bronwyn Corbett*, Peter Todd (lead independent), Maheshwar Doorgakant #, Chandra
Gujadhur, Ian Macleod, Leon van de Moortele*, Jacqueline van Niekerk and Matshepo More (*executive director) (#alternate to
Mr Gujadhur)
Company secretary: Intercontinental Fund Services Limited
Registered address: c/o Intercontinental Fund Services Limited, Level 5, Alexander House, 35 Cybercity, Ebène 72201, Mauritius
Transfer secretary (South Africa): Computershare Investor Services Proprietary Limited
Registrar and transfer agent (Mauritius): Intercontinental Secretarial Services Limited
Corporate advisor and JSE sponsor: PSG Capital Proprietary Limited
Sponsoring Broker: SBM Securities Ltd
SEM authorised representative & sponsor and Mauritian transaction advisor: Perigeum Capital Ltd

This notice is issued pursuant to the JSE Listings Requirements, SEM Listing Rule 11.3 and Rule 5(1) of the Securities (Disclosure
Obligations of Reporting Issuers) Rules 2007.
The board of directors of the Company accepts full responsibility for the accuracy of the information contained in this
communiqué.

Date: 01/06/2017 09:00:00 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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