| Wed 31 Oct 2007, 16:52 | | KDV - KayDav - Abridged Pre-Listing Statement - Li |
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JSE
KAY
KDV - KayDav - Abridged Pre-Listing Statement - Listing Of Kaydav Ordinary
Shares On The JSE Limited ("JSE")
KAYDAV GROUP LIMITED
(formerly Thornbird Trade and Invest 25 (Proprietary) Limited)
Incorporated in the Republic of South Africa
(Registration number 2006/038698/06)
JSE code: KDV
ISIN: ZAE000108940
("KayDav" or "the company")
ABRIDGED PRE-LISTING STATEMENT - LISTING OF KAYDAV ORDINARY SHARES ON THE JSE
LIMITED ("JSE")
This abridged pre-listing statement is not an invitation to the public to
subscribe for KayDav ordinary shares, but is issued in compliance with the
Listings Requirements of the JSE for information purposes only. The information
in this abridged pre-listing statement has been extracted from a prospectus to
be issued by KayDav on 1 November 2007 ("the prospectus").
INTRODUCTION AND HISTORY
The business of Kayreed Trading (Pty) Ltd was started in 1977 by the late Rubin
Katz, initially selling building materials and thereafter particleboard,
laminates, hardboard, plywood, timber and allied products to kitchen
manufacturers, furniture manufactures and shopfitters. Medium Density
Fibreboard (MDF) was added to the fold at a later date.
The Kayreed Trading business was acquired by KayDav with effect from 1 January
2007.
The business of Davidson`s Holding Company (Pty) Ltd ("Davidson`s") was started
in 1989 by Geoff Davidson in Ottery, Cape Town. Initially a pure distributor of
wooden boards, Davidson`s added cutting and edging facilities to the services
offered by it. The demand from both the formal and informal markets for these
products has resulted in significant historic sales growth.
Subject to the listing of the KayDav ordinary shares on the JSE ("the listing")
the shares comprising the entire issued share capital of Davidson`s were
acquired by KayDav with effect from 1 March 2007.
Pursuant to an internal restructuring the business of KayDav was sold to KayDav
Industries (Pty) Ltd ("KayDav Industries"), a wholly owned subsidiary of KayDav,
with effect from 1 January 2007.
OVERVIEW OF KAYDAV
Following the listing, KayDav through its wholly owned subsidiaries KayDav
Industries and Davidson`s will distribute wooden boards and provide value added
services including cutting, edging, specialised veneering and the manufacturing
of cabinet doors. Complementary products, including fittings and accessories
will also be sold. The principal markets catered to will be the Gauteng and the
Western Cape markets.
In Gauteng, KayDav`s primary location for distribution purposes will be located
in Langlaagte, Johannesburg.
In the Western Cape, KayDav will operate branches in Ottery, Montague Gardens,
Brackenfell, Strand, and George, as well as franchises in Hermanus, Worcester,
Mossel Bay, Gansbaai and Bredasdorp. A factory located in Epping, Cape Town
equipped with state of the art machinery including panel saws, computerised beam
saws, edgebanders, routers, a spraying machine and a spray booth will enable
KayDav to supply its retail network with upgraded wooden boards.
DIRECTORS
The board of directors of KayDav are:
Director Age Role and term Qualification Business address
of office
Gary 33 Executive B Com, CA(SA) 105 Bamboesvlei
Davidson director Road
Chief Ottery
Executive 7800
Officer
(Indefinite)
Geoff 59 Executive 105 Bamboesvlei
Davidson director Road
(Indefinite) Ottery
7800
Jay Katz 38 Executive 1 Pomeroy Avenue
director Corner Katanga
(Indefinite) Street
Langlaagte
2092
Jonathan 35 Non-executive BSc, FIA, CFA 6A Sandown Valley
Hertz director Crescent
(Indefinite) Sandown
Sandton
2196
Martin 36 Executive B Com (Law), 105 Bamboesvlei
Slier director Hons B Compt, Road
Financial CA(SA) Ottery
Director 7800
(Indefinite)
Ian Stern 59 Non-executive CTA (Wits), 303 Inanda Park
Chairman CA(SA) 72 3rd Avenue
(Indefinite) Inanda
2196
SHARE CAPITAL
As at the date of listing the authorised share capital of KayDav shall be
1 000 000 000 ordinary shares of R0.000001 each of which 295 232 716 ordinary
shares will be issued and listed.
DETAILS OF THE OFFER
The offer comprises a private placement by KayDav to placees to subscribe for 40
000 000 shares at a subscription price of 100 cents per share, which offer will
raise up to R40 000 000. The closing date of the offer is 12:00 on Wednesday, 7
November 2007.
LISTING ON THE JSE
Subject to obtaining a spread of shareholders acceptable to the JSE, the JSE has
granted KayDav approval for the listing of up to 295 232 716 ordinary shares in
the Building Materials and Fixtures Sector of the Main Board of the JSE lists
under the abbreviated name "KayDav" JSE code "KDV" and "ISIN ZAE000108940".
The listing will be effective as from the commencement of trade on the JSE on
Thursday, 15 November 2007.
COPIES
Copies of the prospectus in English may be obtained for information purposes
only between 08h30 and 17h00 from Thursday, 1 November 2007 to Wednesday, 7
November 2007 at the following places:
Probity Business Services (Pty) Limited
3rd Floor, JHI House, 11 Cradock Avenue, Rosebank, 2196
Java Capital (Pty) Limited
2nd Floor, 2 Arnold Road, Rosebank, 2196
Link Market Services South Africa (Pty) Limited
5th Floor, 11 Diagonal Street, Johannesburg, 2001
Johannesburg
31 October 2007
Corporate advisor, legal advisor and sponsor
Java Capital (Proprietary) Limited
Attorneys to the prospectus
Fluxmans Inc.
Auditors and reporting accountants
PKF (Jhb) Inc.
Date: 31/10/2007 16:52:34 Produced by the JSE SENS Department.
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