| Tue 20 Jan 2009, 15:26 | | ABL / ABLP - Further Allocation Of ABIL`s Second Black Economic Empowerment |
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ABL ABLP
ABL
ABL / ABLP - Further Allocation Of ABIL`s Second Black Economic Empowerment
Programme, Masonge Investment Holdings Ltd ("Masonge")
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
Ordinary share code: ABL ISIN: ZAE000030060
Preference share code: ABLP ISIN: ZAE000065215
("ABIL")
FURTHER ALLOCATION OF ABIL`S SECOND BLACK ECONOMIC EMPOWERMENT PROGRAMME,
MASONGE INVESTMENT HOLDINGS LTD ("MASONGE")
Further to the announcement released on SENS on 1 October 2008, the extended
public offer to apply for shares in Masonge closed on 28 November 2008.
An additional 3 388 applications were received, amounting to a consideration of
R16 million. A total of 12,800 applications have been received for the entire
Masonge offer to date, amounting to a consideration of R74 million. These
applicants have all been successful and have had their full application of
shares allotted to them. The allocation process was undertaken by an independent
sub committee of the ABIL board comprised of ABIL non-executive board members
who were not entitled to participate in the BEE programme. The total number of
Masonge shares issued to all applicants is 16 million, which leaves a further 18
million shares to be issued at a future date.
Masonge has utilised the proceeds from the public offer and purchased a total of
2,4 million ABIL ordinary shares through the market at an average price of
R26,25 per share. This brings the total number of ABIL ordinary shares owned by
Masonge at 15 January 2009 to 13,9 million which is equal to 1,7% of the total
issued ordinary shares of ABIL.
The total holding by both Masonge and Eyomhlaba of 49,5 million ABIL shares
equates to an effective total BEE shareholding of 6,2%. ABIL`s stated objective
remains that the BEE programs achieve an unencumbered shareholding of 10% by
2015.
ABIL directors` interest in Masonge
The following directors of ABIL have subscribed for and have been allotted
ordinary shares in Masonge;
Current Rand value Indirect
effective invested interest in
holding in ABIL shares
Masonge (number)
Ashley Mabogoane - Non 0,59% R300 000 82 440
executive chairman
Mpho Nkeli - non executive 0,66% R333 870 91 747
Tami Sokutu - executive 3,94% R2,001,000 549 874
Mutle Mogase - non executive 3,93% R1,999,998 549 598
The above calculations use the current number of Masonge shares allotted and
issued to date, before taking into account any future dilution that will result
from the issue of the remaining unissued shares.
Midrand
20 January 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 20/01/2009 15:26:01 Produced by the JSE SENS Department.
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