JSE
KEL
KEL - Kelly Group Limited - Private Placing Price
Kelly Group Limited
(Formerly LogicalOptions Staffing (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
Registration number 1999/026249/06
Share code: KEL
ISIN number: ZAE000093373
("the Kelly Group" or "the Company")
PRIVATE PLACING PRICE
With reference to the abridged prospectus of the Kelly Group published on
SENS on 13 March 2007 and in the press on 14 March 2007, the closing date
of the private placing was Monday 26 March 2007.
In terms of the private placing, which was substantially over-subscribed,
38,605,544 Kelly Group shares will be placed at R9.00 per share ("placement
price"), implying a total placement value of R347,449,896.
Furthermore, the Brait Private Equity Funds have agreed to sell, in terms
of a separate agreement, an additional 3,900,000 Kelly Group shares at the
placement price to existing directors and management of the Kelly Group.
This decision has been taken based on the substantial over-subscription and
has the effect of removing these applications from the private placing,
accordingly enabling more shares to be allocated to investors. These shares
will be subject to the same six month "standstill" conditions referred to
in the prospectus dated 12 March 2007. Existing shareholders and management
believe that this will further assist liquidity and enhance the existing
BEE credentials of the Company.
The settlement date and expected listing date of the Kelly Group, subject
to achieving a spread of shareholders acceptable to the JSE Limited, will
be Tuesday 3 April 2007.
Sandton
28 March 2007
Bookrunner, merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 28/03/2007 08:05:01 Produced by the JSE SENS Department.
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