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KCM
KCM
KCM - Kimberley Consolidated Mining - General Issue Of 34 665 117 KCM
Ordinary Shares for Cash
Kimberley Consolidated Mining Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/010470/06)
JSE code: KCM
ISIN: ZAE000119996
("KCM" or "the Company")
GENERAL ISSUE OF 34 665 117 KCM ORDINARY SHARES FOR CASH
Introduction
At the annual general meeting of the Company held on Friday, 14 November 2008,
the requisite majority of KCM shareholders approved an ordinary resolution
authorising the directors to issue shares for cash in accordance with paragraph
5.52 of the JSE Limited ("JSE") Listings Requirements ("General Authority"). In
accordance with the General Authority the Company has successfully placed 34 665
117 ordinary shares ("the General Issue Shares"), equating to 7,71% (seven comma
seven one percent) of the Company`s issued share capital with various parties,
raising R4 257 000 (four million two hundred and fifty seven thousand rand). The
General Issue Shares will be listed on the JSE with effect from the commencement
of business on 29 April 2009 and will rank pari passu with existing ordinary
shares of the company.
The General Issue Shares will be issued at an average premium of 18% to the 30
day volume weighted average price of the shares on the date the various prices
were agreed between KCM and the relevant parties.
The shares were placed with "public" shareholders within the meaning of
paragraphs 4.25 and 4.26 of the JSE Listings Requirements.
Application of proceeds
The proceeds will be used for working capital.
Pro forma financial effects
The table below reflects the unaudited pro forma financial effects of the
abovementioned general issue of shares for cash. The pro forma financial effects
have been prepared for illustrative purposes only and in terms of the Listings
Requirements of the JSE and therefore due to their nature, may not truly reflect
KCM`s financial position or results. The directors of KCM are responsible for
the preparation of the pro forma financial effects.
Column 1 Column 2
Before After Percentage
Issue Issue Change
(%)
Basic earnings/(loss) per 7.76%
share(cents)(1)(2)(3)(4) -5.37 -4.96
Headline earnings/(loss) per
share(cents) (1)(2)(3)(4) -3.31 -3.05 7.85%
Net asset value per -3.46%
share(cents)(1)(5) 23.71 22.89
Net tangible asset value per -2.58%
share(cents)(1)(5) 19.02 18.53
Number of share in issue (000) 449 975 484 640
Weighted average number of 441 319 475 984
shares in issue(000)
Notes:
1. The "Before the issue" figures are based on KCM`s reviewed interim results
for the six months ended 31 August 2008.
2. The "Pro forma after the issue" figures are based on the assumption that
the issue was effective on 1 March 2008 for basic loss per share and
headline loss per share.
3. An interest rate of 8% was applied to cash and cash equivalents received in
terms of the general issue.
4. An effective tax rate of 28% was applied to the pro forma adjustments.
5. The "Pro forma after the issue" figures are based on the assumption that
the issue was effective on 31 August 2008 for NAV and TNAV purposes.
Cape Town
28 April 2009
Designated Advisor
PSG Capital (Pty) Limited
Date: 28/04/2009 17:30:02 Produced by the JSE SENS Department.
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