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IMU
IMU
IMU - Imuniti Holdings Limited - General Issue Of Shares For Cash
IMUNITI HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2004/002282/06)
(JSE Code: IMU & ISIN: ZAE000089199)
("Imuniti" or "the Company")
GENERAL ISSUE OF SHARES FOR CASH
1. Introduction
Imuniti shareholders are advised that the Company has raised R6 840 000 in
capital by the issue of 100 000 000 ordinary shares at 6,84 cents per
share.
2. Issue for cash
At the annual general meeting of the Company held on 29 August 2007, the
requisite majority of shareholders approved an ordinary resolution
authorising the directors to issue shares for cash in accordance with the
Listings Requirements of the JSE Limited ("the Listings Requirements").
As the issue of new shares represents a 13,03% increase in the issued
ordinary share capital of the Company, the following disclosure is required
in terms of section 11.22 of the Listings Requirements:
- 100 000 000 ordinary shares in the Company have been issued at a price
of 6,84 cents per ordinary share;
- The issue price of 6,84 cents per share represents the volume weighted
average price at which Imuniti shares traded during the 30 day period
up to and including 3 July 2008, being the date on which the issue
price was agreed upon by the directors; and
- The shares have been issued to public shareholders as defined by the
Listings Requirements.
3. Financial effects
The table below sets out the unaudited pro forma financial effects of the issue
for cash on the earnings, headline earnings, net asset value and tangible net
asset value per Imuniti share:
Before After Change
(cents) (cents) (%)
Earnings per share (1.99) (1.66) 16.58
(cents)
Headline earnings per (1.15) (0.92) 20
share (cents)
Net asset value per 11.09 10.6 (4.42)
share (cents)
Tangible net asset 1.69 2.28 34.91
value per share (cents)
Notes:
1. The "before" column has been extracted from the reviewed results of Imuniti
for the year ended 29 February 2008.
2. The figures in the "after" column assume that the 100 000 000 shares were
issued and the cash was received on 1 March 2008.
3. The "after" column net asset value and net tangible asset value per share
have been adjusted to include the estimated transaction costs which have
been written off against share premium.
4. The "after" column earnings per share and fully diluted earnings per share
have been adjusted for interest saving of R820 800. Taxation has been
calculated at 28%.
The pro forma financial effects above are the responsibility of the Company`s
directors and have been prepared for the purposes of illustrating how the
general issue of shares for cash would have affected the relevant financial
results and position of Imuniti for the historical financial period indicated on
a pro forma basis. Accordingly, such effects do not necessarily represent a
true reflection of the financial effects of the general issue of shares for cash
on Imuniti`s current and future earnings.
4. Listing of the new shares
The JSE Limited granted a listing of the new shares with effect from the
commencement of business on 15 July 2008.
5. Motivation
The capital will be utilised to implement the Group`s marketing strategy i.e. to
unlock brand value of our existing product range. This will take the Group to
the next level and will add significantly to out target set to have our two
factories operate at full capacity.
17 July 2008
Sponsor:
Exchange Sponsors (Pty) Limited
Date: 17/07/2008 12:20:01 Produced by the JSE SENS Department.
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