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YRK - York Timber Holdings Limited - Results of rights offer

Release Date: 14/12/2009 16:19
Code(s): YRK
Wrap Text

YRK - York Timber Holdings Limited - Results of rights offer York Timber Holdings Limited (formerly The York Timber Organisation Limited) Incorporated in the Republic of South Africa Registration number: 1916/004890/06 ISIN code: ZAE000133450 Share code: YRK ("York" or "the Company") RESULTS OF RIGHTS OFFER Shareholders are referred to the announcement released on the SENS on 30 October 2009 relating to the York rights offer in terms of which 250 000 000 shares in the authorised but unissued share capital of York were offered for subscription to shareholders ("the Rights Offer Shares") in the ratio of 307.72792 Rights Offer Shares for every 100 York ordinary or preference shares ("shares") held on the record date at an issue price of 200 cents per Rights Offer Share ("the Rights Offer"). The Rights Offer closed on Friday, 11 December 2009 and the results thereof are set out in the table below. Number of Rights Percentage of Rights Offer Shares Offer Shares Rights Offer Shares available for 250 000 000 100.0 subscription Rights Offer Shares subscribed for 248 208 354 99.3 Excess Rights Offer Shares 168 447 650 67.4 subscribed for Total Rights Offer Shares 416 656 004 166.7 subscribed for Rights Offer Shares available for 1 791 646 0.7 excess applications The Rights Offer was underwritten by the following shareholders: Lereko Metier Capital Growth Fund, CoroCapital Limited, Coronation Asset Management Limited to the extent of 72 500 000 Rights Offer Shares (the "Underwritten Rights Offer Shares"). Given that the shares subscribed for by current shareholders together with the excess applications were in excess of the total amount of the Rights Offer, the Underwriters will not be allocated any Rights Offer Shares. The excess Rights Offer Shares subscribed for will be allocated to applicants in a manner viewed as equitable in terms of the Listing Requirements of the JSE Limited taking cognisance of the number of shares held by the relevant shareholder 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 holders of certificated shares on or about Tuesday, 15 December 2009. The accounts of holders of dematerialised shares who have followed their rights, will be updated and accounts credited with the Rights Offer Shares and debited with the money by their CSDP or broker on Monday, 14 December 2009. Sabie 14 December 2009 Merchant bank RAND MERCHANT BANK (A division of FirstRand Bank Limited) Legal advisors Prinsloo, Tindle & Andropolous Inc Reporting accountants KPMG Inc. Sponsor Barnard Jacob Mellet Corporate Finance (Proprietary) Limited Date: 14/12/2009 16:19:03 Supplied by www.sharenet.co.za 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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