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BEE
BEE
BEE - Beget Holdings Limited - Issues of Ordinary Shares for Cash
BEGET HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 2002/011635/06
Share code: BEE & ISIN number: ZAE000044111
("Beget" or "the company")
ISSUES OF ORDINARY SHARES FOR CASH
INTRODUCTION
At the annual general meeting of the company held on 20 September 2006, the
requisite majority of shareholders approved an ordinary resolution authorising
the directors to issue shares for cash in accordance with the Listings
Requirements of JSE Limited ("the Listings Requirements").
As the issue of the new shares represents a 6.72% increase in the issued
ordinary share capital of the company, the following disclosure is made in
terms of section 11.22 of the Listings Requirements.
In the current financial year the directors have made the following issues of
ordinary shares with a par value of 0.0002 cents per share:
Name Number of shares Issue Value Date
price
Polaris Trust 17 533 334 R0.03 R526 000 30 April 2007
JAC Trust 17 533 333 R0.03 R526 000 30 April 2007
The ordinary shares referred to above were issued to public shareholders as
defined by the Listings Requirements. The ordinary shares referred to above
were issued at no discount to the weighted average trading price over the 30
days prior to their issue.
FINANCIAL EFFECTS
The financial effects of the issue, based on the published, reviewed results
of Beget for the 6 months ended 31 October 2006 are set out below. The pro
forma financial effects have been prepared for illustrative purposes only to
provide information of how the issue for cash may have impacted on the results
and financial position of Beget. Preparation of the pro forma financial
effects is the responsibility of the directors. Because of their nature, the
pro forma financial effects may not fairly present Beget` financial position
after the issue for cash or the effect on future earnings:
Before After %
change
Loss per share (cents) (0.36) (0.33) 8.33%
Headline loss per share (cents) (0.36) (0.33) 8.33%
Net asset value per share (cents) 0.28 0.45 60.71%
Tangible net asset value per share (cents) (0.021) (0.018) 14.3%
Number of shares in issue 521,892,144 556,958,811 6.72%
Notes:
1. The figures in the "before" column are extracted from the reviewed
results of Beget, Limited for the 6-month period ended 31 October 2006;
2. The figures in the "after" column assume the 35 066 667 ordinary shares
were issued;
3. The earnings and headline earnings were calculated on the assumption that
the shares were issued on 1 May 2006;
4. The net asset value and net tangible asset value were calculated on the
assumption that the shares were issued as at 30 April 2006 and R1 052 000
cash received was used to reduce liabilities.
5. The % change column reflects the change between the before and after the
issue of shares for cash.
Pretoria
15 May 2007
Sponsor
SASFIN CAPITAL
A division of Sasfin Bank Limited
Date: 15/05/2007 10:06:02 Produced by the JSE SENS Department.
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