| Thu 17 May 2007, 15:53 | | PPE - Purple Capital - Rights Offer |
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PPE
PPE
PPE - Purple Capital - Rights Offer
Purple Capital Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE & ISIN: ZAE000071411
("Purple Capital" or "the company")
RIGHTS OFFER
1. Introduction
In an announcement dated 13 April 2007, shareholders were informed of the
board`s intention to raise capital in the company by way of a rights offer to
all shareholders ("the rights offer").
The rights offer which will raise approximately R45.4 million and will take the
form of an unconditional renounceable rights offer of 37 814 592 Purple Capital
shares at an issue price of 120 cents per share, in the ratio of 20 rights
shares for every 100 Purple Capital shares held on the record date, Friday, 8
June 2007.
2. Salient dates and times
Set out below are the salient dates and times pertaining to the rights offer:
2007
Last day to trade in order to qualify to participate
in the rights offer (cum entitlement) on Friday, 1 June
Listing of letters of allocation on the JSE commences
at 09:00 on Monday, 4 June
Letters of allocation commence trading on the JSE
at 09:00 on Monday, 4 June
Purple Capital shares commence trading ex-rights on
the JSE at 09:00 on Monday, 4 June
Record date for the rights offer at the close of
business on Friday, 8 June
Rights offer opens at 09:00 on Monday, 11 June
Allotment and issue of renounceable letters on Monday, 11 June
Circular and form of instruction (where applicable)
posted to ordinary shareholders on Monday, 11 June
Last day for trading in letters of allocation on the
JSE on Friday, 22 June
Listing of rights shares on the JSE at 09:00 on Monday, 25 June
Rights offer closes at 12:00 on (See note 3) Friday, 29 June
Record date for letters of allocation on Friday, 29 June
Allotment and issue of ordinary shares on Monday, 2 July
Entitlements in terms of the rights offer available on Monday, 2 July
Share certificates posted to holders of certificated
Purple Capital shares on or about Monday, 2 July
CSDP/Broker accounts in respect of holders of
dematerialised Purple Capital shares debited
and updated on Monday, 2 July
Results of rights offer released on SENS on Monday, 2 July
Results of rights offer published in the press on Tuesday, 3 July
Notes:
1. In respect of Purple Capital shares, share certificates may not be
dematerialised or rematerialised between Monday, 4 June 2007 and Friday, 8 June
2007, both days inclusive.
2. CSDPs effect payment on a delivery versus payment method in respect of
holders of dematerialised Purple Capital shares.
3. If you are a holder of dematerialised Purple Capital shares you are
required to notify your duly appointed CSDP/broker of your acceptance of the
rights offer in the manner and time stipulated in the agreement governing the
relationship between yourself and your CSDP/broker.
3. Pro forma financial effects
The table below sets out the unaudited pro forma financial effects of the
general issue of shares for cash ("general issue") and the rights offer on
Purple Capital. The unaudited pro forma financial effects are presented for
illustrative purposes only and because of their nature may not give a fair
reflection of Purple Capital`s financial position after the general issue and
the rights offer. The impact of the general issue and the rights offer on
earnings and headline earnings per share has not been disclosed as it would be
misleading to show zero income attributable to the cash raised. It has been
assumed for purposes of the pro forma financial effects that the rights offer
took place with effect from 28 February 2007 for balance sheet purposes. The
directors of Purple Capital are responsible for the preparation of the
unaudited pro forma financial effects.
Before 1 After the Percentage
general change
issue
Published
Net asset value per share
(cents) 57,45 67,76 2 17,9
Net tangible asset value
per share (cents) 57,45 67,76 2 17,9
Number of shares in issue 161 040 559 189 072 959
After the Percentage
general change
issue
and the
rights offer
Pro forma
Net asset value per share
(cents) 76,25 3 32,7
Net tangible asset value
per share (cents) 76,25 3 32,7
Number of shares in issue 226 887 551
Notes:
1. The "Before" financial information is based on Purple Capital`s
published results for the six months ended 28 February 2007.
2. The "After the general issue" net asset value and net tangible asset
value per ordinary share have been adjusted to include the issue of the 28 032
400 new Purple Capital ordinary shares at 127 cents per share announced on 13
April 2007.
3. The "After the general issue and the rights offer" net asset value and
net tangible asset value per ordinary share have been adjusted to include the
issues of the 28 032 400 and the 37 814 592 ordinary shares at 127 cents and
120 cents per share, respectively, less the payment of the estimated
transaction costs relating to the rights offer of R492 000 which have been
written off against share premium.
4. Circular
A circular containing full details of the rights offer will be posted on
Monday, 11 June 2007.
Johannesburg
17 May 2007
Sponsor
BRIDGE CAPITAL
Date: 17/05/2007 15:53:01 Produced by the JSE SENS Department.
