|
ACC
ACC
ACC - Acc-Ross Holdings Limited - General issue of shares for cash
ACC-ROSS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/000059/06)
Share code: ACC ISIN: ZAE000077335
("Acc-Ross" or "the company")
GENERAL ISSUE OF SHARES FOR CASH
Acc-Ross shareholders are advised that the company has issued 60 000 000
shares, under its general authority to issue shares for cash, to members of
the general public at an issue price of 50 cents per share, which is a
0.24% discount to the 30 day volume weighted average share price as at the
date of approval of the issue by Acc-Ross board of directors. The cash
will primarily be used to discharge the balance of the purchase price of
the Remaining Extent of the farm Welvergenoegd, which is the group`s
proposed Cape Town development of approximately 380 hectares just outside
Durbanville. The balance will be injected into Gardener Ross Golf and
Country Estate to facilitate liquidity for the completion of this project.
Shareholders are advised that Phase 3 of Gardener Ross Golf & Country
Estate has been proclaimed during May 2007.
The pro forma financial effects of the issue for cash, detailed below, are
the responsibility of the directors and have been prepared for illustrative
purposes only, to provide information about how the issue for cash might
have affected the financial information presented. The pro forma financial
effects, because of their nature, may not give a true reflection of the
financial position, changes in equity, results of operations or cash flows
of Acc-Ross after the issue for cash.
Before After the Percentage
the issue change (%)
issue (cents)
(cents)
Earnings per share 0.19 0.18 (5.81%)
Headline earnings per share 0.52 0.49 (5.81%)
Net asset value per share 26.4 27.77 5.18%
Tangible net asset value per 10.3 12.58 22.37%
share
Weighted average shares in issue 972 734 1 032 734 6.17%
(`000)
Shares in issue at period end 975 930 1 035 930 22.37%
(`000)
Notes:
1 The "Before" column of the table, is based upon the unaudited interim
results of Acc-Ross for the six months ended 31 August 2006.
2 The "After" column assumes the issue of 60 000 000 new shares for cash
at 50 cents per share, which cash will be applied to the reduction of
liabilities. Accordingly, no income statement effect for interest or
taxation has been assumed, other than the impact of dilution through
the issue of shares assumed at 01 March 2006.
Johannesburg
24 May 2007
Designated Advisor
Arcay Moela Sponsors (Proprietary) Limited
Date: 25/05/2007 12:45:01 Produced by the JSE SENS Department.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
