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ESORFRANKI LIMITED - Cautionary announcement relating to the introduction of a new BEE shareholder

Release Date: 23/08/2012 12:15:00      Code(s): ESR       PDF(s):  
Cautionary announcement relating to the introduction of a new BEE shareholder

(Incorporated in the Republic of South Africa)
(Registration number: 1994/000732/06)
JSE code: ESR
ISIN: ZAE000133369
(Esorfranki or the company)


Shareholders are advised that Esorfranki has received an expression of interest from a BEE 
Investment Consortium, which is subject to suspensive conditions, relating to the acquisition 
via the subscription and purchase by that BEE Investment Consortium of 118 million Esorfranki 
ordinary shares. 

It is proposed that:
*	54 million Esorfranki ordinary shares will be subscribed for in terms of a specific issue 
        of shares for cash at a subscription price of R1.50 each; and 
*	64 million Esorfranki ordinary shares will be acquired in the form of an open process 
        that will allow all current Esorfranki shareholders to tender their Esorfranki ordinary 
        shares for sale at R1.50 per share.  In the event of more than 64 million Esorfranki 
        ordinary shares being tendered, a pro-rata apportionment will take place.

Shareholders are advised to exercise caution when dealing in their Esorfranki ordinary shares 
until a formal agreement is signed in this regard and a further announcement is made.

23 August 2012

Vunani Corporate Finance

Date: 23/08/2012 12:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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