|
CAE
CAE
CAE - Cape Empowerment Trust Limited - Issue of shares for cash
Cape Empowerment Trust Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/014606/06)
JSE Code: CAE
ISIN: ZAE000016952
("Cape Empowerment Trust" and "the company")
PLACEMENT OF 24 500 000 ORDINARY SHARES FOR CASH
INTRODUCTION
At the general meeting of the company held on 4 May 2007, the requisite majority
of shareholders approved an ordinary resolution authorising the directors of the
company to issue shares for cash in accordance with the Listings Requirements of
the JSE Limited ("the Listings Requirements").
As the placement of the ordinary shares referred to in this announcement
represents a 10.6% increase in the number of issued ordinary shares of the
company as used in calculating its financial results, the following disclosure
is made in terms of section 11.22 of the Listings Requirements.
The directors have made the following placement of ordinary shares with a par
value of 0.1 cents per share:
24 500 000 ordinary shares at an issue price of 200 cents per share.
The placement price represents a premium of 3.63% to the 30 day weighted
average price for the period to 17 May 2007, being the date the placement price
was agreed upon by the directors of Cape Empowerment Trust.
The ordinary shares referred to above were placed with public shareholders as
defined by the Listings Requirements.
The JSE has granted a listing of the shares with effect from 29 May 2007.
PRO FORMA FINANCIAL EFFECTS
The unaudited pro forma financial effects of the placement, based on the
published reviewed results of Cape Empowerment Trust for the year ended 31
December 2006 are set out below. The preparation of the unaudited pro forma
financial effects is the responsibility of the directors of the company. The
unaudited pro forma financial effects have been prepared for illustrative
purposes only to provide information on how the Transactions may have impacted
on CET`s results and financial position. Due to the nature of the unaudited pro
forma financial effects, they may not give a fair reflection of the company`s
financial position.
Before After %Change
Earnings per share (cents) 36,9 33,7 -8,7
Headline earnings per
share (cents) 36,1 33,1 -8,3
Net asset value 98,0 107,8 10,0
per share
Tangible net asset value
per share 83,8 94,9 13,3
Number of shares
in issue (`000) 231 071 629 255 571 629 10,60
Notes:
The figures in the before column are extracted from the published reviewed
results of Cape Empowerment Trust for the year ended 31 December 2006.
The figures in the after column assume that the shares were issued and the cash
received on 1 January 2006 and the cash invested for 6 months at a net after tax
return of 4.26% per annum for earnings purposes and that the shares were issued
and the cash received on 31 December 2006 for asset value purposes.
Cape Town
28 May 2007
Sponsor and Corporate Advisor
Sasfin Corporate Finance
A division of Sasfin Bank Limited
Legal Advisor
Hofmeyr Herbstein Gihwala Incorporated
Date: 28/05/2007 12:34:44 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 ] | |||||||||||||
|
|||||||||||||
