SAN - Sanyati - Circular to Sanyati shareholders r
SAN
SAN
SAN - Sanyati - Circular to Sanyati shareholders regarding the specific issue
of shares to the BEE Consortium
SANYATI LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1988/002538/06)
(JSE code: SAN ISIN: ZAE000081055)
("Sanyati" or "the company")
CIRCULAR TO SANYATI SHAREHOLDERS REGARDING THE SPECIFIC ISSUE OF SHARES TO THE
BEE CONSORTIUM, THE ESTABLISHMENT AND THE SPECIFIC ISSUE OF SHARES TO THE
SANYATI 2007 ACQUISITIONS SHARE INCENTIVE SCHEME, THE SPECIFIC ISSUE OF SHARES
TO THE DESIGNATED ADVISOR AND THE APPOINTMENT OF NEW DIRECTORS
1. INTRODUCTION
Shareholders are referred to the announcement on SENS dated 19 April 2007
in terms of which it was announced that Sanyati will issue 48 million
shares to a BEE consortium at an issue price of R2.10 per share, for a
total cash consideration of R100.8 million.
The cash raised in terms of the specific issue will be utilised for the
payment of announced acquisitions, working capital requirements as well as
future acquisitions.
2. GENERAL MEETING
Forming part of the circular is a notice convening a general meeting of
shareholders to be held at the company`s offices at Bridelia Sanyati
Park, 3 Abrey Road, Kloof, Durban on Thursday, 31 May 2007 commencing at
10:00, at which meeting the ordinary resolutions as are necessary to
implement the specific issues for cash and establish the Sanyati 2007
Acquisitions Share Incentive Scheme will be proposed for consideration
and if deemed fit, approved.
3. DOCUMENTATION
The circular and a notice of a general meeting of shareholders, were
mailed to the shareholders yesterday.
Johannesburg
17 May 2007
Designated adviser Exchange Sponsors
Auditors and Reporting accountants PKF
Independent Expert PKF Corporate Finance
Attorneys Deneys Reitz
Date: 17/05/2007 10:49:04 Produced by the JSE SENS Department.
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