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REI
REI
REI - Reinet Investments S.C.A. Depositary Receipts - Reinet rights issue -
results of warrant auction
Reinet Investments S.C.A. Depositary Receipts
issued by Richemont Securities AG
(Incorporated in Switzerland)
ISIN: CH0045793657
Depositary Receipt Code: REI
Reinet rights issue - results of warrant auction
The Board of Reinet Investments Manager SA is pleased to announce the conclusion
of the auction process.
Further to the press release of Friday 12 December 2008, following the
clarification of the number of unexercised warrants in South Africa, the final
number was 7 692 955.
The auction was conducted earlier today, resulting in 7 692 955 subscription
rights (the "Subscription Rights") attaching to 7 692 955 unexercised warrants
issued by Reinet Investments SCA (`Reinet`) being sold.
The total net proceeds of the auction (after deduction of the costs relating
thereto) are estimated to be Euro 11 145 590 and will be paid to the holders of
unexercised warrants pro-rata to their respective entitlements. The amount
payable per unexercised warrant is estimated to be Euro 1.4488. Payments will be
effected through Reinet`s registrars and the usual settlement systems. Holders
of unexercised South African warrant receipts will (subject to a de minimus
level) receive their pro-rata entitlement in rand at the exchange rate
prevailing when the funds are transferred to the depository agent.
The auction process being concluded, Reinet will issue 87 085 016 new shares on
17 December 2008; the new shares will commence trading on the Luxembourg Stock
Exchange from that date. The new shares will be credited to holders` Clearstream
and Euroclear accounts and to Richemont Securities AG, as the Depository in
respect of the shares to be issued in the form of South African depository
receipts (DRs) on 17 December 2008.
New Reinet DRs will be issued to holders in South Africa on 17 December 2008 and
trading in the new DRs will commence on the stock exchange operated by the JSE
Limited from that date. Dematerialised holders of Reinet DRs will have their
accounts credited on or about 18 December 2008. Certificates in respect of
Reinet DRs will be posted to certificated holders on or about the same date.
As a result of the rights issue, the number of Reinet ordinary shares in issue
has increased to 195 941 286 ordinary shares. Following the contribution of 23
870 007 shares in British American Tobacco plc (`BAT`) pursuant to the rights
issue, Reinet now holds 84 303 670 BAT shares.
Further information:
Mr Alan Grieve
Chief Financial Officer
Reinet Investments SCA
Tel: +352 22 7252
15th December 2008
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Persons wishing to continue to receive press releases and related announcements
in respect of Reinet Investments SCA are asked to register to receive these by
visiting the Reinet website (www.reinet.com) and entering their email details.
Date: 17/12/2008 07:15:10 Produced by the JSE SENS Department.
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