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CAE
CAE
CAE - Cape Empowerment Trust - Issue Of Ordinary 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" or "the company")
ISSUE OF ORDINARY SHARES FOR CASH
INTRODUCTION
At the annual general meeting of the company held on 30 August 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").
Shareholders are advised that a total of 18 276 333 ordinary shares have
been issued to public shareholders at an issue price of 240 cents per share
("the share issue"). The issue price represents a discount of 9.43% to the
30 day weighted average price for the period to 8 October 2007, being the
date on which the share issue was agreed upon by the directors of Cape
Empowerment Trust. The JSE has granted a listing of the shares with effect
from 26 November 2007.
As the share issue represents a 5.92% 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.
PRO FORMA FINANCIAL EFFECTS
The unaudited pro forma financial effects of the share issue, based on the
published unaudited interim results of Cape Empowerment Trust for the six
months to 30 June 2007, are set out below. The preparation of these effects
is the responsibility of the directors of the company and have been prepared
for illustrative purposes only to provide information on how the share issue
may have impacted on Cape Empowerment Trust`s results and financial
position. Due to the nature of the unaudited pro forma financial effects it
may not give a fair reflection of the company`s financial position.
Before After %Change
Earnings per share (cents) 30.9 29.4 -4.8%
Headline earnings per
share (cents) 28.5 27.1 -4.9%
Net asset value
per share 141.2 148.5 5.2%
Tangible net asset value
per share 127.5 135.8 6.5%
Weighted number of shares
in issue (`000) 247 499 265 775 7.4%
Number of shares
in issue (`000) 272 429 290 705 6.7%
Notes:
1. The figures in the before column are extracted from the published
interim results of Cape Empowerment Trust for the six months to 30 June
2007.
2. The figures in the After column assume that the shares were issued and
the cash received on 1 January 2007 and invested for 6 months at a net after
tax return of 7.1% per annum for earnings purposes and that the shares were
issued and the cash received on 30 June 2007 for asset value purposes.
Cape Town
27 November 2007
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Date: 27/11/2007 17:00:01 Produced by the JSE SENS Department.
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