SAL
SAL - Sallies Limited - Proposed rights offer
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
JSE share code: SAL ISIN: ZAE000022588
("the company")
Proposed rights offer
As a consequence of ongoing losses, the company requires refinancing.
The board of directors have decided to proceed with a 24-for-100 rights offer of
convertible debentures at an issue price of 50 cents per debenture, to raise
approximately R75 million.
The debentures will be convertible into ordinary shares on a one-for-one basis
on or before 31 December 2012, at the election of the debenture holders.
Debentures not converted will be repaid on 31 December 2012.
The issue is fully underwritten.
Full details of this offer will be published in due course.
Johannesburg
4 February 2008
Sponsor: Bridge Capital Advisors (Pty) Limited
Attorneys: Brink Cohen Le Roux
Reporting Accountants and Auditors: BDO Spencer Steward (JHB) Inc Chartered
Accountants (SA)
Registered Accountants and Auditors
Date: 04/02/2008 17:24:08 Produced by the JSE SENS Department.
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