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ESR - Esorfranki Limited - Results of The Rights Offer

Release Date: 08/03/2011 11:26:00      Code(s): ESR
ESR - Esorfranki Limited - Results of The Rights Offer                          
ESORFRANKI LIMITED                                                              
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1994/000732/06)                                           
JSE code: ESR                                                                   
ISIN: ZAE000133369                                                              
("Esorfranki" or "the company")                                                 
RESULTS OF THE RIGHTS OFFER                                                     
Esorfranki announces the results of the rights offer of 93 023 256 new ordinary 
shares in the ratio of 30.786 new ordinary shares for every 100 ordinary shares 
held on the record date at a subscription price of R2.15 per new ordinary share 
("rights shares"). In terms of the rights offer:                                
*    shareholders and their renouncees applied for 18 709 152 new ordinary      
    shares (20.11% of the rights shares);                                       
*    59 451 283 new ordinary shares (63.91% of the rights shares) were taken up 
by Coronation Asset Management (Pty) Limited in terms of an Underwriting    
    Agreement;                                                                  
*    14 862 821 new ordinary shares (15.98% of the rights shares) were taken up 
    by Sanlam Investment Management (a division of Sanlam Life Insurance        
Limited) in terms of an Underwriting Agreement,                             
resulting in the issued share capital of the company increasing by 93 023 256   
ordinary shares to 395 185 430 ordinary shares.                                 
Sandton                                                                         
8 March 2011                                                                    
Corporate Adviser and Sponsor                                                   
Vunani Corporate Finance                                                        
Independent reporting accountants                                               
KPMG Inc                                                                        
Legal Adviser                                                                   
Thomson Wilks Inc                                                               
Date: 08/03/2011 11:26:00 Supplied by www.sharenet.co.za                     
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