SAL
SAL
SAL - Sallies Limited - Rights Offer Results
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
JSE share code: SAL & ISIN: ZAE000022588
("Sallies")
RIGHTS OFFER RESULTS
The directors of Sallies are pleased to announce the results of the rights offer
pertaining to the issue of 151 483 358 new unsubordinated unsecured convertible
debentures ("convertible debentures") of R0.50 each at a subscription price of
R0.50 per convertible debenture, in the ratio of 24 convertible debentures for
every 100 ordinary shares held at close of business on Friday, 11 April 2008
("the rights offer").
The rights offer closed on Friday, 9 May 2008 and 139 467 427 convertible
debentures, being 92.1% of the convertible debentures offered, were subscribed
for by existing Sallies shareholders and their renouncees. The underwriters to
the rights offer subscribed for the remaining 12 015 931 convertible debentures
and a total amount of R75 741 679 was raised.
Certificated shareholders will have new convertible debenture certificates
posted to them on or about Monday, 12 May 2008. Similarly, CSDP/Broker accounts
will be debited and updated on Monday, 12 May 2008.
Johannesburg
12 May 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 Auditors
Date: 12/05/2008 14:30:08 Produced by the JSE SENS Department.
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