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BEG/BEGP2 - Beige Holdings Limited - Abridged pre-listing statement

Release Date: 06/05/2011 11:10
Code(s): BEG BEGN
Wrap Text

BEG/BEGP2 - Beige Holdings Limited - Abridged pre-listing statement Beige Holdings Limited (Incorporated in the Republic of South Africa) (Registration No: 1997/006871/06) Share Code: BEG ISIN: ZAE000034161 Share Code: BEGP2 ISIN: ZAE000154787 ("Beige" or "the company") ABRIDGED PRE-LISTING STATEMENT Abridged pre-listing statement relating to the proposed listing of up to 25 000 000 variable rate, cumulative, non-participating, convertible, redeemable preference shares ("preference shares") on the Alternative Exchange of the JSE Limited ("the JSE") with effect from the commencement of business on Monday, 16 May 2011. This abridged pre-listing statement is not an invitation to the public to subscribe for preference shares in Beige, but is issued in compliance with the Listings Requirements of the JSE for the purpose of providing information to the public with regard to Beige. 1. INTRODUCTION Shareholders are referred to the announcements dated 9 November 2010, 1 April 2011 and 4 April 2011 detailing the announcement by Beige of its intention to raise R25 million by way of a partially underwritten renounceable rights offer of 25 000 000 preference shares. The preference shares, which have a par value of R0.01, have been offered to existing shareholders for subscription by way of a rights offer in the ratio of 1.53203 new preference shares for every 100 Beige ordinary shares held at the close of business on Friday, 15 April 2011, at an issue price of R1.00 per share. Letters of allocation in respect of the preference shares were listed on the JSE on Monday, 11 April 2011 under share code BEGN and ISIN: ZAE000154795 and may be traded on the JSE until close of business on Friday, 6 May 2011. 25 000 000 preference shares will be listed and commence trading on the JSE at 09:00 on Monday, 9 May 2011 under the share code: BEGP2 and ISIN: ZAE000154787 and the rights offer will close at 12:00 on Friday, 13 May 2011. The preference shares subscribed for in terms of the rights offer will, for the time being, be the only preference shares in issue. Shareholders will be advised of the final number of preference shares subscribed for in an announcement to be published on SENS on Monday, 16 May 2011. The salient features of the preference shares are set out in paragraph 6 below. 2. OVERVIEW OF THE BUSINESS OF BEIGE Operational overview: Beige operates though a number of subsidiaries and divisions, but within four separate, but clearly focused areas, being: (i) the contract manufacturing of branded personal care products including cosmetics and cosmetic application products (cosmetic brushes and applicators, facial sponges, cotton wool and buff puffs), bath products (soaps, fizzing bath balls, bath soak

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