| Wed 10 Oct 2007, 10:37 | | Trencor / Mobile - Textainer finalises initial pub |
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MOB TRE
MOB TRE
TRE / MOB - Trencor / Mobile Industries - Textainer finalises initial public
offering on the NYSE
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
TEXTAINER FINALISES INITIAL PUBLIC OFFERING ON THE NYSE
1. Introduction
On 27 September 2007 we announced on SENS that Textainer Group Holdings Limited
("Textainer"), in which Trencor has a 71,7% beneficiary interest, had filed a
registration statement with the U.S. Securities and Exchange Commission for a
proposed initial public offering ("IPO") and listing of its common shares on a
US stock exchange. We now draw attention to the news release by Textainer
included in paragraph 2 below, announcing the number and pricing of its shares
offered in the IPO and the listing of its common shares on the New York Stock
Exchange.
2. Textainer news release
Hamilton, Bermuda, October 9, 2007 - Textainer Group Holdings Limited (NYSE:
TGH) announced today that its initial public offering of 9,000,000 common shares
has been priced at $16.50 per common share. The underwriters have a 30-day
option to purchase up to 1,350,000 additional common shares to cover any over-
allotments. All of the common shares are being sold by Textainer Group Holdings
Limited. The common shares will begin trading on the New York Stock Exchange on
Wednesday, October 10, 2007 under the symbol "TGH".
Credit Suisse Securities (USA) LLC and Wachovia Securities are the joint book
running managers for the offering with Jefferies & Company, Inc., Piper Jaffray
& Co. and Fortis Securities LLC acting as co-managers.
A registration statement relating to these securities was filed with and
declared effective by the United States Securities and Exchange Commission. The
offering is being made solely by means of a prospectus. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sales of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities law of any such state or
other jurisdiction.
Copies of the final prospectus relating to this offering, when available, may be
obtained by contacting Credit Suisse Securities (USA) LLC, Prospectus
Department, One Madison Avenue, New York, NY 10010, (800) 221-1037 or Wachovia
Securities, 375 Park Avenue, New York, NY 10152, (800) 326-5897.
For more information, contact:
Mr Tom Gallo
415-658-8227
tjg@textainer.com
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world`s largest lessor of
intermodal containers based on fleet size. We have a total of more than 1.3
million containers, representing over 2,000,000 TEU, in our owned and managed
fleet. We lease containers to more than 300 shipping lines and other lessees.
We principally lease dry freight containers, which are by far the most common of
the three principal types of intermodal containers. We have also been one of
the largest purchasers of new containers among container lessors over the last
12 years. We believe we are also one of the two largest sellers of used
containers among container lessors for the last five years. We provide our
services worldwide via a network of 14 regional and area offices and over 300
independent depots in more than 130 locations.
3. Resultant Trencor interest in Textainer
As part of the IPO, Halco Holdings Inc. ("Halco"), through which Trencor has its
beneficiary interest in Textainer, will acquire 2 100 000 shares at $16.50 per
share, i.e. a total new investment by Halco of $34.65 million, which will be
funded from Halco`s existing cash resources. Following the IPO of 9 000 000
common shares (which includes Halco`s subscription for the 2 100 000 shares),
Halco`s shareholding in Textainer will be 62.6%. If, in addition, the
underwriters exercise in full their over-allotment option on a further 1 350 000
shares, Halco`s shareholding in Textainer will be 60.8%.
4. Mobile/Trencor group structure
We draw attention to earlier communications in which we indicated that following
the implementation of value enhancement initiatives below the listed Trencor
level, the merits of further changes to the Mobile/Trencor listed group
structure would be considered from time to time as appropriate. In this regard,
following the listing of Textainer we plan to give further consideration to such
possible changes.
Cape Town
10 October 2007
Investment bank and advisor Sponsor
Investec Corporate Finance Rand Merchant Bank (A division of
FirstRand Bank Limited)
Date: 10/10/2007 10:25:01 Produced by the JSE SENS Department.
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