| Fri 7 Dec 2007, 14:35 | | TFX - Top Fix Holdings Limited - Rights offer |
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TFX
TFX
TFX - Top Fix Holdings Limited - Rights offer
Top Fix Holdings Limited
(formerly Nutcreek Investments (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2006/011359/06)
JSE code: TFX
ISIN: ZAE000088423
("Top Fix" or "the Company")
RIGHTS OFFER
1. Introduction
Shareholders are referred to the announcements dated 13 September 2007
and 16 October 2007 and are advised that Top Fix will proceed with a
fully underwritten renounceable rights offer of 18 181 818 new ordinary
shares of 0.1 cent each in the ordinary share capital at a subscription
price of 220 cents per new ordinary share, in the ratio of 9 new ordinary
shares for every 100 ordinary shares held in Top Fix at the close of
business on Friday, 4 January 2008.
2. Purpose of the rights offer
The purpose of the rights offer is to raise approximately R40 million
(before expenses) which will be utilised to:
* finance the joint venture with Robor (Pty) Limited as announced on
13 June 2007; and
* increase the company`s scaffolding capacity.
3. Conditions precedent
The implementation of the rights offer is conditional upon, inter alia:
* the underwriting agreement becoming irrevocable;
* the JSE Limited ("JSE") granting listings for the 18 181 818
renounceable (nil paid) letters of allocation ("RLAs") and
18 181 818 new ordinary shares to be issued pursuant to the rights
offer; and
* the registration by the Registrar of Companies of all documents
required in respect of the rights offer.
4. Salient dates for participation in the rights offer
The last date to trade in Top Fix shares in order to be entitled to
participate in the rights offer is scheduled to be Thursday, 27 December
2007 for settlement by the record date which is scheduled as Friday, 4
January 2008. Subject to approval by the JSE, it is anticipated that the
18 181 818 RLAs will be listed on the JSE with effect from the
commencement of trade on Friday, 28 December 2007, on which date the Top
Fix shares will trade "ex-rights". These dates are subject to change and
any changes will be announced on SENS. A finalisation announcement
giving the salient dates of the rights offer will be made on or about
Friday, 14 December 2007.
5. Documentation
A circular to shareholders, giving full details of the rights offer ("the
circular"), is in the process of being finalised and is expected to be
mailed to shareholders on Monday, 7 January 2008. A form of instruction
in respect of the RLA will be enclosed with the circular for use by Top
Fix shareholders who have not dematerialised their Top Fix shares.
Johannesburg
7 December 2007
Designated Adviser
Ernst & Young Sponsors (Pty) Ltd
(Registration number 2000/031843/07)
Date: 07/12/2007 14:35:01 Produced by the JSE SENS Department.
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